Production ramp-up to commence at Talang Santo: Kingsrose
Wednesday, July 9 2014 - 04:17 AM WIB
ASX-listed Kingsrose Mining Limited (KRM) announced Wednesday that its 85 percent owned Indonesian subsidiary PT Natarang Mining (PTNM) has received Minister of Forestry approval for the ?borrow and use? permit.
This is the final permit required allowing production to commence immediately at the Talang Santo gold mine located at the Way Linggo Project in South Sumatra, the company said in a statement.
The company will immediately begin ramping up production from the Talang Santo mine with key activities including the commencement of stoping, advancement of development on existing levels of the mine and extending the internal shaft to the 4 Level which will provide an additional working horizon in the mine, it added.
The project has approximately 8,600 tons of ore currently stockpiled at an estimated mine grade of 13g/t Au. The mill will be ramped up in conjunction with mine production over the next 3-months.
In addition, the company intends to launch an underground drilling program at the Talang Santo Mine aimed at defining additional resources in close proximity to the current mine development, which will include the evaluation of the extent of the recently defined Splay vein. The company will also continue the exploration development at the Talang Samin shaft designed to determine the geology around previous high grade intercepts from surface diamond drilling.
Editing by Reiner Simanjuntak