Wilton engages Xinhai in Ciemas gold project
Monday, September 5 2016 - 04:03 AM WIB
SGX-listed Wilton Resources Corporation Limited said it has engaged Shandong Xinhai Mining Technology and Equipment Inc. (Xinhai) to carry out the engineering design for a pilot gold processing plant at the Ciemas gold project in West Java.
Wilton said in a statement last week the pilot plant would have an approximate capacity of 300 tons per day of ore.
The firm said the mining engineering design for the supply of ore to the pilot plant has adopted the underground mining method, with prospecting and mining running in parallel.
The preliminary pilot plant process engineering design, the mining engineering design and tailings storage facilities engineering design have been completed, it added.
?The detailed engineering design is in progress, but has been delayed due to the delay in completion of the geotechnical investigations and is now expected to be completed during 1QFY17 (previously 4QFY16). Consequently, and barring any unforeseen circumstances, the mining of ore to be processed by the pilot plant is now scheduled to commence during 2QFY17 (previously 1QFY17), with production commencing in 3QFY17 (previously 2QFY17),? the statement said.
The company said it has decided to focus its efforts on the Pilot Production Program whilst working towards the completion of a feasibility study for the development of the four main prospect areas (Pasir Manggu, Cikadu, Sekolah, and Cibatu).
In parallel with the development of the four main prospect areas, Wilton said it the plans to expand exploration to other mineralised areas identified by historical exploration within its 3,078.5 Ha of mining permits in the Ciemas District.
?Acquisition of additional surface access rights within the mining permits, where mining rights are already held by the Group, greatly facilitates the process of exploration and development.?
Additional surface rights to areas within the Concession Blocks are being negotiated. These additional surface rights cover areas from which promising results were obtained by historical exploration, it ended.
Wilton holds the mining and production licences for two concession blocks, known as the Ciemas gold project, covering an area of approximately 3,078.5 hectares in West Java, out of which only an area of 200 hectares has been explored.
The most recent Independent Qualified Person?s Report (IQPR) of Wilton?s assets dated June 2015 contains an estimate of total mineral resources for the Ciemas gold project of 4.6 million tons containing approximately 39,000 kg of gold. Total production costs (C3) for the Ciemas gold project have been estimated as part of a scoping study of between $600-$700 per ounce of gold.
Editing by Reiner Simanjuntak