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Last Updated: 22/07/2010
September 2009 Quarterly Report
September_2009_Quarterly_Report
HIGHLIGHTS FOR THE QUARTER
- Gold production from the Tasmania Mine was 16,375 ounces for the quarter.
- Mill throughput was yet again a record with over 78,000 tonnes of ore treated.
- Remnant resources of more than 30,000 ounces in the upper levels of the mine have been identified from which incremental production of 2,000 to 3,000 ounces of gold per quarter is targeted, commencing in calendar 2010.
- An enhanced remote mining method has been designed which is expected to significantly reduce costs per ounce when introduced. A trial block is being developed with stoping to commence early in calendar 2010.
- Narrow vein techniques have been established to mine incremental ounces from thin parts of the reef and increase the grade of ore development.
- Good progress has been made establishing the F21 Zone with 586 metres of development completed on three levels.
- Intersections of 1.9 metres estimated horizontal thickness at 7.6 g/t (with visible gold) and 0.6 metres estimated horizontal thickness at 20.0 g/t in drillhole J13 have confirmed a strike length of 400 metres of strong mineralisation 210 metres below current workings and also identified a significant untested up-dip target area.
- Drilling at the Ararat project has confirmed strong copper sulphide mineralisation in all four holes completed to date.
CEO'S COMMENTARY ON THE QUARTER
Beaconsfield Gold CEO, Bill Colvin said "The Tasmania Mine continues to perform steadily with another record mill throughput enabling production of over 16,000 ounces of gold during the quarter. A number of initiatives are underway to improve productivity and reduce unit cash costs during calendar 2010.
An enhancement to the current remote mining method is expected to save around $3.5 million of costs per stoping block, typically containing between 50,000 and 100,000 tonnes of ore. For example, for a stoping block mine grade of 10 g/t gold, the potential cost savings could be of the order of $120 to $240 per ounce produced. Additionally, remnant mining and narrow vein mining techniques will be employed in certain parts of the mine to deliver incremental production and increase overall grade.
Drilling continues to confirm the potential for extensions to the Tasmania Reef resource, with positive results from J13 particularly important in terms of adding to the strike length of the target zone. Strong copper mineralisation is reported from recent holes at Ararat, giving confidence that this deposit can provide a significant grade contribution to the Stavely copper project."