Galane Gold Ltd. says it has mined its first ore from Tau Underground—an area it has previously disclosed it intended to exploit its reported measured and indicated resource of 128.6 thousand ounces of gold for Tau through underground mining.
The company revealed it commenced the project in the fourth quarter of 2013 and has now completed the forced portal entry at the bottom of the existing Tau pit, installation of the entire infrastructure required, appointment of an underground contractor and the development work required to reach ore.
Entrance of Tau Underground (Pic: Marketwire.com/ Galane Gold)
Galane says it has put together a mine plan based on the reported resource to mine approximately 85,000 ounces of gold over the next three and a half years. It is expected that once underground we will start a comprehensive exploration programme to confirm that the mineralisation continues at depth and expand the existing mine plan.
“This is a major step in the evolution of the company both with regards to a change from open pit mining to underground mining and our plans to extend mine life through further exploration,” said Ravi Sood, Galane Gold’s CEO.
“We are also putting together a mine plan to connect all the current pits on the Mupane mining license underground, as for example we know that mineralisation continues at depth at Tholo and Kwena”
Sood said in addition the fact that we have completed this project within 6 months and from our own operating cash-flows is a testament to the experienced management team that we have put in place.
Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange and the Botswana Stock Exchange under the symbol GG.
Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates