Trial mining of up to 1,000,000 loose cubic metres (about 1.6 million tonnes) will be undertaken at Impact Minerals Blackridge gold project, located 25 kilometres north of Clermont in central east Queensland, following an agreement for tribute mining with a private contractor.

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Impact's Blackridge gold testing

Under the tribute agreement, signed with Queensland-based Nimble Resources, Nimble will provide all set up, mining, processing and rehabilitation costs at the project. In return, Impact has financially de-risked the next significant stage of exploration and development of Blackridge and will also benefit from the receipt of a sliding scale Net Smelter Royalty (NSR) of up to 15 per cent, depending on the average monthly grade of gold mined.

The trial mining phase, if successful, would be a major step forward in demonstrating the potential for a larger open pit mine at Blackridge and follows the recent recognition of large volumes of free-digging oxide ore with exceptional gold recoveries of more than 95 per cent by wet gravity processing methods in recent bulk sampling programmes.

Nimble has specialist skills and equipment in both wet and in particular dry gravity gold processing technologies.  Nimble believes that a large portion of the oxide material at Blackridge may potentially be dry processed and in the first instance will trial a proprietary dry processing technology with a throughput capacity of about 90 cubic metres per hour.

Impact will work with Nimble to determine optimal processing routes for the other two material types in the deposit which are not suitable for dry processing: wet clay-rich material and less oxidised to fresh bedrock.

Work is now in progress to finalise a Plan of Operations to be submitted to the Queensland Department of Natural Resources, Mines and Energy (DNRME) for approval with mining to commence as soon as practicable afterwards. It is possible but not guaranteed that mining could commence before the end of the year. The mining process, being dry, is only operable outside of the wet season and this will reduce the operating time during the year.

Impact Minerals Limited Managing Director Dr Mike Jones said the agreement was a very positive step forward for the Blackridge project.

“We know that the best way to determine grade in coarse gold deposits such as Blackridge is to simply start mining. This is inherently very high risk and so this agreement gives Impact a very low risk entry to mining by trial mining of only a modest part of the mineralised area which extends over at least 1,500 metres along trend,” Mr Jones said.

“Having worked with Nimble Resources for the past 18 months, Impact has established that the company is a very capable operator and we look forward to working with them and starting the trial as quickly as practicable. The use of their dry processing technology in the first instance also significantly decreases the environmental risk and the large water requirements for a wet processing plant. Impact will also continue to assess other processing alternatives for other material types which are key targets for the larger scale potential at Blackridge” he said.

The trial mining programme has been capped at 1,000,000 (one million) loose cubic metres of oxide material over a maximum three-year period.

Source:

Trial mining of up to 1,000,000 loose cubic metres (about 1.6 million tonnes) will be undertaken at Impact Minerals Blackridge gold project, located 25 kilometres north of Clermont in central east Queensland, following an agreement for tribute mining with a private contractor.

Under the tribute agreement, signed with Queensland-based Nimble Resources, Nimble will provide all set up, mining, processing and rehabilitation costs at the project. In return, Impact has financially de-risked the next significant stage of exploration and development of Blackridge and will also benefit from the receipt of a sliding scale Net Smelter Royalty (NSR) of up to 15 per cent, depending on the average monthly grade of gold mined.

The trial mining phase, if successful, would be a major step forward in demonstrating the potential for a larger open pit mine at Blackridge and follows the recent recognition of large volumes of free-digging oxide ore with exceptional gold recoveries of more than 95 per cent by wet gravity processing methods in recent bulk sampling programmes.

Nimble has specialist skills and equipment in both wet and in particular dry gravity gold processing technologies.  Nimble believes that a large portion of the oxide material at Blackridge may potentially be dry processed and in the first instance will trial a proprietary dry processing technology with a throughput capacity of about 90 cubic metres per hour.

Impact will work with Nimble to determine optimal processing routes for the other two material types in the deposit which are not suitable for dry processing: wet clay-rich material and less oxidised to fresh bedrock.

Work is now in progress to finalise a Plan of Operations to be submitted to the Queensland Department of Natural Resources, Mines and Energy (DNRME) for approval with mining to commence as soon as practicable afterwards. It is possible but not guaranteed that mining could commence before the end of the year. The mining process, being dry, is only operable outside of the wet season and this will reduce the operating time during the year.

Impact Minerals Limited Managing Director Dr Mike Jones said the agreement was a very positive step forward for the Blackridge project.

“We know that the best way to determine grade in coarse gold deposits such as Blackridge is to simply start mining. This is inherently very high risk and so this agreement gives Impact a very low risk entry to mining by trial mining of only a modest part of the mineralised area which extends over at least 1,500 metres along trend,” Mr Jones said.

“Having worked with Nimble Resources for the past 18 months, Impact has established that the company is a very capable operator and we look forward to working with them and starting the trial as quickly as practicable. The use of their dry processing technology in the first instance also significantly decreases the environmental risk and the large water requirements for a wet processing plant. Impact will also continue to assess other processing alternatives for other material types which are key targets for the larger scale potential at Blackridge” he said.

The trial mining programme has been capped at 1,000,000 (one million) loose cubic metres of oxide material over a maximum three-year period.

Source: impactminerals.com.au

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