Mount Pleasant

The Mount Pleasant operations are located 40km northwest of Kalgoorlie in Western Australia, and 10km from the Paddington Mill operated by Zijin Mining Group. Mount Pleasant was acquired by Zijin through the acquisition of Norton Goldfields Limited, one of Australia’s largest domestic gold producers at the time. The Mount Pleasant sub-district and hosts a number of typical Eastern Goldfields Archaean greenstone-hosted lode gold deposits with historical production estimated at 4Moz Au. The royalty dates back to 1993 and encompasses 28 individual mining licences, 15 of which had defined Resources at the time of acquisition by Zijin in 2015, many with earlier production.

Mount Pleasant is part of the large, multi-source Paddington Operation. The currently operating Tuart underground mine has been producing in excess of 50kozpa on a monthly basis, but the expected life of mine is unclear. The sulphidic Racetrack deposit, is being assessed for potential production, and could be expected to produce at a similar rate.

Small quantities of oxide ore have been intermittently sourced from a number of open pits in the Mt Pleasant area during Elemental Altus’ ownership of the royalty, it is uncertain to what extent that this might continue.

Photo Gallery

Source

Norton Gold Fields Limited ASX release titled “January 2015 Mineral Resource & Ore Reserve Update”, released February 3, 2015