As Ashby Mining Limited prepares for its admission to the official list of the ASX, its Far Fanning Gold Project has emerged as a significant opportunity in the Charters Towers region. In this investigative post, we will compare Ashby Mining’s venture with other projects in the region, examining its historical production, resource estimate, and development plans. By delving into the details, potential investors can gain a deeper understanding of the project’s potential and its standing among its peers.
Historical Production and Location:
Situated approximately 45 km northeast of Charters Towers, the Far Fanning Gold Project holds significant historical value. The project is located on a permitted Mining Lease that has yielded 47,200 ounces of gold from 664,000 tonnes of ore, with an average gold grade of 2.2 grams per tonne. Notably, the main historical open pit reached a depth of only 30 meters and was last operated in 2005.
The Far Fanning Gold Project boasts a JORC (2012) resource estimate, which was updated in 2021. The current estimate indicates a resource of 2.55 million tonnes at an average grade of 1.8 grams per tonne, equating to approximately 147,000 ounces of gold. This resource estimate serves as a foundation for further evaluation and development of the project.
Development Plans and Feasibility Study:
To unlock the full potential of the Far Fanning Gold Project, Ashby Mining has outlined a comprehensive plan. A scoping study Whittle optimization has demonstrated the potential for pit expansion to a depth of 115 meters, highlighting the possibility of accessing additional gold resources. The company intends to conduct verification and infill drilling programs to enhance the confidence in the resource estimate. These initiatives will support a further resource update, feasibility study, and pave the way for the commencement of mining operations.
When comparing Ashby Mining’s Far Fanning Gold Project to other ventures in the Charters Towers region, several factors come into play. First, the project’s historical production and location within a permitted Mining Lease provide a solid foundation for future operations. The demonstrated potential for pit expansion adds to the project’s allure, promising access to additional gold resources. Additionally, Ashby Mining’s commitment to conducting verification and infill drilling demonstrates a proactive approach to resource estimation and project development.
Good as Gold?
As Ashby Mining prepares for its admission to the ASX, the Far Fanning Gold Project emerges as a compelling opportunity within the Charters Towers region. Its historical production, resource estimate, and development plans demonstrate the project’s potential for future success. However, it is essential for potential investors to conduct thorough due diligence, considering factors such as regulatory requirements, market conditions, and the inherent risks associated with mining operations. By doing so, investors can make informed decisions regarding their involvement in Ashby Mining’s Far Fanning Gold Project and its prospects for long-term profitability.