mining news
Stonewall Resources, listed on the ASX, re-
ports that a significant resource of under-
ground reef residue material (ore) left behind
in the old workings has been identified at the
Beta mine, part of Transvaal Gold Mining Es-
tates Ltd (TGME). The discovery, it says, has
“a significant upside potential to increase the
mineral resources, Life of Mine (LOM) and in-
troduce scalable low cost effective mineable
potential.”
A robust surveying and sampling method-
ology that is compliant with the recommen-
dations of the Competent Person has begun,
says Stonewall. A total of 62 (approximately
20 kg each) underground bulk samples of reef
residue pillars was taken with a composite
average grade of 2,33 g/t Au in the 10 mm
fraction, which comprised 53 % of the mass.
Comments CEO Lloyd Birrell: “The explo-
ration programme has been successful. The
second and third components of the three-
pronged approach of drilling, underground
exploration and historical research have
yielded a significant potential additional min-
eral resource, which at no prior time figured in
any of the resource estimations of the Com-
petent Person or in the Stonewall strategy.
“The benefits of large scale tonnages of
gold bearing, already drilled and blasted
ore, stockpiled in accessible areas, cannot
be over-emphasised. Should this resource
be commercially viable, the available ton-
nage, speed to production, low capex and
Stonewall makes resource discovery at Beta
low mining cost will make the reopening of
Beta much easier. The added bonus of find-
ing a comprehensively pre-developed block
means we can complete the Beta concept
study in the near term.”
TGME is situated within the Sabie-Pilgrim’s
Rest goldfield in Mpumalanga Province and
stretches for over 65 km between the towns
of Pilgrim’s Rest and Sabie. TGME has been
mined since 1886 with estimated historical
production of 6 Moz of gold. Stonewall says
it has identified excellent surface deposits,
which include old tailings dams, rock dumps
and open pits, and underground exploration
targets, which include flat dipping, near-hori-
zontal mineralised zones and one near-verti-
cal mineralised zone.
In May this year Stonewall Resources an-
nounced that it had entered into a conditional
agreement to sell its subsidiary, Stonewall
Mining (Pty) Ltd, to Shandong Qixing Iron Tow-
er Co of China for US$140 million or above. At
the time, Stonewall said the final pricing would
be subject to a number of matters, including
the completion of various valuation scenarios
and due diligence investigations.
Bilboes appoints MDM to undertake study
MDM Engineering, the minerals process and
project management company listed on AIM,
has been awarded the Pre-Feasibility Study
(PFS) for Bilboes Holdings (Pvt) Limited’s Ma-
tabeleland Claim project in Zimbabwe.
Bilboes owns and operates four gold mines,
namely Isabella, Bubi, When and McCays, all
in the Bubi greenstone belt. The mines were
acquired from Anglo American Corporation
Zimbabwe Limited (AMZIM) in 2003, together
with most of AMZIM’s gold mineral rights in
Zimbabwe. Since its inception in 1989, Bil-
boes has produced 234 000 oz of gold from
oxides through open-pit mining and heap
leach processing at its existing mines.
Bilboes’ immediate developmental plans
are focused on the completion of pre-feasibil-
ity studies for exploiting underlying sulphides
at Isabella, McCays and Bubi.
Comments Kevin Stock, MDM General
Manager Proposals: “MDM are pleased to be
working on a Zimbabwean project again. The
team has extensive gold experience in Africa,
specifically in Zimbabwe, having executed
the Ashanti and Delta projects.”
Adds Victor Gapare, Bilboes Chief Execu-
tive Officer: “Bilboes is excited to be able
to progress to Pre-Feasibility Study on the
sulphide mineralisation at its Matabeleland
properties where a total resource containing
4 million ounces of gold was defined last year.
We look forward to working with MDM, who
have extensive experience in providing stud-
ies of this type.”
