Since mining operations at the Transvaal Gold Mining Estates (TGME) closed down in 2015, serious work has been going on in the background. The company, listed on the Australian Stock Exchange, is now on the verge of reawakening the oldest goldfield in South Africa. The potential shown by the work done over the past three years should be attractive to prospective investors.
To reflect the change in direction and the completely new directorship, the holding company of TGME has recently changed its name from Stonewall Mining Resources to Theta Gold Mining Limited.
During the past three years of planning and development at TGME the historical paper records of its more than 40 mining sites, and spanning over 130 years, were digitized for the first time in history. This allowed the company to identify sites with good potential and the data was then validated through extensive exploration drilling.
Theta hill has now been selected as the first site for development with an estimated life of mine of 7.6 years and a yield of an average 67 thousand ounces of gold per year. This figure might increase further with focused exploration drilling currently being done on the site.
The company is planning to use open cut mining at Theta Hill with a method known as progressive strip mining. The waste is used as a refill, with rehabilitation once mining in an area is complete. This method reduces the amount of drilling and blasting and is cost effective. The initial Theta Hill project is only one of a possible 40 open cut targets identified from the historical mining and exploration data.
The revitalization plan also includes an extensive refurbishment of the CIL plant in order to increase its operational capacity.
Feasibility studies and an application for a mining rights amendment to allow for open cut gold mining – unique in South Africa – is currently underway. This includes an Environmental Impact Study conducted by an independent environmental consultant. Interested parties have been invited to participate and anyone who wants to comment or obtain more information can contact Batho Earth at 082 770 2750 or e-mail Ingrid@bathoearch.co.za.
This information has been obtained from the websites of Theta Gold Mining Ltd http://thetagoldmines.com/ and the Australian Stock Exchange (ASX).