India’s first private gold mine progressed steadily toward full-scale operations. The Jonnagiri Gold Project, owned by Geomysore Services (India) Pvt Ltd (GMSI) – a venture between Thriveni Earth Moving, Lloyds Enterprise, and Deccan Gold – has total Mineral Resources of 6.5 million tonnes at 2.03 g/t Au for 365 koz of gold mineralization with potential for further growth (Figure 7).
Most of the mineralization exists in the East Lode which is the focus for the current mine development. The East Lode Pit contains approximately 2.8 million tonnes of ore at 1.68 gt Au for 150 koz of gold metal. At the process plant design and operating license criteria of 400 ktpa, the current operation has a 7 year mine life.
GMSI has informed your Company that an update to its 2017 Feasibility Study will be completed shortly. GMSI has intimated that there will be a significant increase in Mineral Resources as well as a large increase in the final pit limits. Permission to mine the larger pit will need to be obtained from the relevant authorities, but this expected to be a formality.