Ball Mill arrives at the Theta Project mine site

Theta Gold Mines Limited (“Theta Gold” or “Company”) (ASX: TGM, TGMO | OTCQB: TGMGF) is pleased to announce continued project development at the Starter Theta Project with the arrival of the 2.5MW ball mill purchased in October 2019 (ASX release 2 October 2019). The Mill was transported from Rustenburg and has now completed its six-day journey to the Theta Project site at Pilgrim’s Rest, Mpumalanga.

Ball Mill drum being offloaded upon arrival at Theta Gold’s TGME CIL Plant site

The small Pilgrim’s Rest community welcomed the arrival of the mill with much excitement and anticipation) eager to see the progress towards an official start of construction and mining which will bring back much needed jobs and income for the town.

The new mill (2.5MW ball mill) has been incorporated into the revised and optimised plant design and offers the project flexibility to easily expand production up to 1.2Mtpa should the project grow.  As mentioned in the ASX announcement dated 3 March 2020 the Company has started the tender process based on a Lump Sum Turnkey (LSTK) contract for the first stage 600,000tpa gold plant construction. The Company expects to complete the plant build tenders by late Q2 of 2020.

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Chairman Mr Bill Guy stated, “The Company has achieved another milestone in the development of the Theta Project. The mill arrival and a welcome march from the local community was very heartening. The mill was placed on the permitted mine site, ready for future installation.

During this quarter, the team has issued tenders for the plant construction, completed submission of the Environmental Impact Assessment (EIA) for “Starter Theta Open-pit Project” (which includes the amendment of MR83 from an underground to open-pit mining method), completed a draft mining contract (ASX release 3 March 2020) and now has transported this 60-tons mill to the mine site.”

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Published by
Laurence M. Stevens
Country: South Africa

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