NIUMINCO Group, the developer of the Edie Creek in Morobe, says it has produced gold but on a smaller scale.
It is looking forward to advancing its operations and exploration in the next 12 months, according to managing director Tracey Lake.
He told the Mining and Petroleum conference in Port Moresby last week it had been “a long suffering journey for many of the shareholders”.
“However, over the last 12 months, we turned the corner and became a producer. Edie Creek is an operating mine with a significant upside,” he said.
“We are currently mining around 3.2 tonnes per day and processing an average of 5.6 tonnes per day.”
He said Edie Creek was still unexplored despite it being discovered a long time ago and explored sporadically over the years.
“We recommenced pilot mining back in February 2014 with the view of seeing if we could scale up production, take advantage of our infrastructure and an economic quantity to be able to run a positive cash flow operation.
“We have been developing four semi-circular small pits over existing, known vein/lode systems, to extend current mining of medium to high grade vein/lode systems.”
Its other explorations are the May River a major copper gold porphyry and epithermal anomalies which join Frieda River in Sandaun, and Bolobip, a copper gold porphyry 60 kilometres east of OK Tedi.
He said May River and Bolobip had potential to be explored.
It is looking forward to advancing its operations and exploration in the next 12 months, according to managing director Tracey Lake.
He told the Mining and Petroleum conference in Port Moresby last week it had been “a long suffering journey for many of the shareholders”.
“However, over the last 12 months, we turned the corner and became a producer. Edie Creek is an operating mine with a significant upside,” he said.
“We are currently mining around 3.2 tonnes per day and processing an average of 5.6 tonnes per day.”
He said Edie Creek was still unexplored despite it being discovered a long time ago and explored sporadically over the years.
“We recommenced pilot mining back in February 2014 with the view of seeing if we could scale up production, take advantage of our infrastructure and an economic quantity to be able to run a positive cash flow operation.
“We have been developing four semi-circular small pits over existing, known vein/lode systems, to extend current mining of medium to high grade vein/lode systems.”
Its other explorations are the May River a major copper gold porphyry and epithermal anomalies which join Frieda River in Sandaun, and Bolobip, a copper gold porphyry 60 kilometres east of OK Tedi.
He said May River and Bolobip had potential to be explored.
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