New lease of life injected into historic mine as extended field activities expand inventory

摘要

Gold production is set to resume at Ballarat at a planned annual rate of 50,000 ounces. Project owner since March 2010, Castlemaine Goldfields Ltd has completed a highly successful 15,000 metre underground exploration program generating sufficient confidence in the quantify and tenor of the precious metal mineralisation to support its plans to resume commercial output. To assist with financing the return of Ballarat to production, CGT recently raised $25 million from local and overseas investors.