News.com.au
With soaring prices, the time could not be more right to get a gold mine into production. These ASX companies are doing just that.
Star Minerals is aiming to become a small-scale gold producer at its 45,000oz Tumblegum South project as soon as 2026.
The Australian
Javelin Minerals is planning to enter production at the Eureka gold project near Kalgoorlie by early next year
We pick out seven junior explorers you may not know are heading for producer status
Investair
Star Minerals (ASX:SMS) has made significant progress in advancing its Tumblegum South Gold Project this quarter. The company signed an MOU with mining company MEGA Resources to collaborate on mine development and operations. They also appointed a mine approval process consultant, ResourcesWA, to undertake the environmental and other studies required for the project.
Subsequent to the quarter, Star Minerals completed 2,033m of drilling to test for potential high-grade lodes and increase resource confidence. The company is working closely with MEGA Resources on the mine design and approval process, and is targeting mining commencement in the first quarter of 2026.
Stockhead
A scoping study for the project suggested at gold prices from A$3000 to A$3800/oz the updated production target for the project ranges from approximately 167,000t at 2.43g/t producing 11,800oz gold, to 255,000t at 2.16g/t producing 15,900oz gold.
That would generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of approximately A$9.4m to A$19.6m.
Star Minerals (ASX:SMS) has polished off a 2033-metre, 38-hole drilling program at the Tumblegum South gold project, on time and within budget.
The infill drilling data from the program will be used for a resource estimate upgrade, and will also provide insights on structural targets to the northwest with potential to hold more gold mineralisation.
The Sydney Morning Herald
Star Minerals has fired up the drill rigs at its flagship Tumblegum South gold project, 40-kilometres south of Meekatharra in Western Australia, as it looks to prove up the asset’s near-term production potential.
The 3000-metre reverse circulation (RC) drilling program, which kicked off this week, aims to bolster the project’s already compelling economics by upgrading the gold gaps and chasing high-grade gold lodes to extend the project’s mine life.
The Daily Telegraph
Star Minerals is attempting to grow its Tumblegum South project resource with the goal of bringing the project into production.
Stockhead’s Tylah Tully unpacks the latest from Star Minerals (ASX:SMS), as it endeavours to grow the gold resource at its Tumblegum South gold project.
Star is testing for more high-grade lodes that could add to the resource and bolster the potential mine life.
Watch the video to learn more.
Also shy of a bit of news this week, $4m capped Star is nonetheless moving forward with studies to mine its small Tumblegum South project in the Murchison.
Drilling was poised to start this month under a drill for equity deal with Impact Drilling to test extensional targets and infill drilling within a $3800/oz pit boundary at Tumblegum South.
