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Mining Activities

Mining

The Gympie Goldfield was the first profitable redevelopment of an eastern Australian historical goldfield and the entire goldfield and surrounding prospective ground was owned by Gympie Eldorado Gold Pty Ltd. It entered in to successive joint ventures with Freeport then BHP Gold in 1981 with BHP Gold earning 51% for the investment of $A30 million. BHP Gold focused on reopening a small southern part of the goldfield called the Monkland Block. BHP Gold withdrew from the Joint Venture in 1990/91 when it was merged with Newmont Australia.

Taguda’s Gympie Gold complex houses approximately 2.3 million tonnes of old mine tailings, contained in 3 tailings dams with a combined area of approx. 35 hectares (of the combined 132 hectare site)

The tailings offer an independently-validated gold content of 55,000 ounces (1.5 MT)

Liberation by traditional milling / re-processing would conservatively recover an estimated 35-40,000 ounces (+/- 1 MT); an easy, readily cash-generating complementary gold source to any primary milling operation

Gympie Gold’s tailings site is one of the few in Queensland State with significant expansion capacity. With limited expense the site could be readied to accept a further 6-8 million tonnes of tailings from new mining / milling operations

Fully up to date Mining License with an exemplary compliance record; power and water equipped mill site; ready offices; decline entry point to the underground mine; SSE / management team with >100 years of cumulative on-site Gympie gold experience, etc.

Real State

The Gympie Regional area is located less than 150km north of Brisbane and is close proximity to the Sunshine Coast with an area of approximately 690,000 hectares

The Gympie Goldfield covers an area of 4km by 10km and consists of an extensive, mesothermal quartz vein system hosted within the Permo–Triassic mafic to intermediate island arc volcanics and sediments of the Gympie Group

Gympie is recognized as a Major Regional Activity Centre in the Regional Plan and is considered a key regional centre for the southern part of the region and far northern parts of South East Queensland. Both East Deep Creek and Victory Heights are recognized as growth areas for industrial activity with the opportunity to build on existing industry such as the Nolan Meats processing plant

The stretch of the Bruce Highway up to Maryborough is currently undergoing upgradation, embracing a Gympie by-pass that will have the main Gympie exit/entry Junction located adjacent to Gympie Gold Mine. The Queensland DTMR has already acquired land parcels from Taguda for this build, whilst several anchor-sized industrial land users are being forced to find new premises, this when there is already a palpable shortage of industrial land.

Taguda has established a pathway to rezone approximately 120 hectares of its current tailings site as a “high impact industrial” estate, offering scope for development of the largest such estate north of Brisbane.

Gympie Times: “Local industry is crippled because of a lack of land available for businesses to expand” says Jason McPherson who understands Gympie Regional Council is doing all it can to open up suitable parcels of land. The CPM Engineering director. "We've been looking for land and the cheapest we could find was 1.5 acres priced at $1.5million. Only big business will prosper at that price. Government land needs to be opened up to keep prices down.“ Development consultant Greg Martoo said the highway deviation was also having a major impact on council trying to establish an area suitable for industry.