Gibb River Diamonds Limited (ASX:GIB) Provides Edjudina Gold Project Update
Project Progress
Gibb River Diamonds Limited (ASX:GIB) has made significant progress on the Edjudina Gold Project, located in the Eastern Goldfields region of Western Australia. The project is focused on monetising the Neta Prospect JORC Resource, which comprises 378,000 tonnes at 1.9g/t, yielding 24,000 ounces of gold, including 110,000 tonnes at 2.2g/t for 8,000 ounces of gold.
Mining Benefits Agreement
The Company has successfully negotiated a Mining Benefits Agreement (MBA) with the Wangatja Tjungula Aboriginal Corporation. This agreement is pending consideration from the Nyalpa Pirniku native title holders’ group, scheduled for mid-December 2024. Approval of this MBA will facilitate the granting of mining lease application M31/495.
Future Mining Plans
To advance mining operations at the Neta Prospect, Gibb River Diamonds is preparing a Mining Proposal for submission to the WA Mines Department, which is anticipated for early 2025, contingent on the grant of M31/495. A fauna and flora survey is currently underway on both M31/495 and the recently acquired M31/481 to provide necessary baseline data for this proposal.
Essential Surveys Conducted
Rock characterisation samples have been taken for analysis, which will contribute crucial baseline data for the Mining Proposal. Additionally, the documentation for an Aboriginal heritage survey is under preparation and will be submitted to the WTAC group, aiming for a survey to occur in early 2025.
Operational Priorities
Upon approval of the Mining Proposal, Gibb River Diamonds plans to engage in a mining and haul operation at the Neta Gold Prospect. The Company is currently in discussions with a local group experienced in mine operations and toll milling.
Executive Chairman Jim Richards remarked, “Our focus remains on progressing the Edjudina Gold Project and ensuring all necessary agreements and surveys are in place for successful mining operations.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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