Mineral Resources and Ore Reserves
Fortnum has the following Mineral Resources and Ore Reserves as at 30 June 2019:
A Measured, Indicated and Inferred Resource of 22.1 million tonnes at 1.79 g/t gold, containing 1.4 million ounces of gold; and
A Proved and Probable Reserve of 6.36 million tonnes at 2.07 g/t gold, containing 423,000 ounces of gold.
Fortnum Gold Operations
FGO encompasses the historic mining centres of Labouchere, Fortnum, Horseshoe and Peak Hill gold mining centres with the Fortnum CIP plant (0.8 -1 million tpa) and associated infrastructure as a processing plant for this region. Fortnum is in the northern region of the Central Murchison region.
During the half-year, mining continued at the Starlight underground mine. The Starlight lodes system which began to transition from selective up-hole benching of high-grade zones to bulk stoping of an aggregated lode system, particularly in the southern extremity of the orebody. In addition, the decline has transitioned from the footwall of the Starlight lodes to the hanging wall enabling better angles for extensional drilling, long term vent planning and the exploitation of the narrower, but high-grade Trev’s lodes.
Production was dominated by Starlight and supplemented by feed from miscellaneous stockpiles. Fortnum has also been the standout exploration success story within the Group with drilling extending the Starlight lode system.
A maiden drilling campaign was conducted during the June 2016 quarter at Yarlarweelor, the resource which will be the first open pit mined during the restart of operations. Best results from the limited campaign of confirmatory drilling included 13m at 4.65g/t Au from 31.0m in MXC0387, 7m at 33.06g/t Au from 51.0m in MXC0392 and 0.54m at 120g/t Au from 124.7m in MXC0405 (ASX:MLX June 2016 Quarterly).
Initial exploration drilling has commenced at the Peak Hill district where significant validation and data-integrity checks are required before it can be brought into the development plan.