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 Contact Details Postal Address PO Box 10488 Kalgoorlie 6433 Western Australia Site Address Milano Gold Mine Mount Monger Western Australia Phone: 08-90242222 Facsimile: 08-90243333 ABN: 19 056 572 260  |
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Executive Summary Mine development has proceeded to schedule in 2001, with the new 11-level (RL - 305m) and 5-level (RL - 130m) now commencing production. Current production is exceeding forecast of 4000 tonnes per month. The new decline in progress from surface to develop various targets in the northern portion of the mining lease area has proved successful with the discovery and development of two new ore bodies. The targets as listed in this report are summarised for internal use only to establish the justification for selecting the route of the decline, the scheduling of exploration drilling, and to define a plan in principle for the geological and mine planning contractors, to assess exploration, development and mining priorities. The summary of targets deemed ready for mining and/or development during the year 2001, exceeds 250,000 tonnes at an estimated grade of 10+ grammes Au/tonne. These targets present greater than 8 years production at current rates. Their positions on 8 different levels, justify the need for the decline access option rather than a shaft extension option. The future targets of expanding the Milano, the Daisy, the Haoma and 'Gap' structural 'lines of reef' or 'shear zones' may yield another 400,000 tonnes of potential mineable material as outlined. The path of the decline has been proposed to pass these targets within a position suitable for underground exploration drilling. Corporate Information
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