Key points
- Signed $38M agreement with Macmahon for Groundrush decline construction
- On-surface works underway, portal construction to start in September
- Decline to extend 3.5km to 350m depth, aiming to convert 400,000oz of Inferred Resources
Full summary
Tanami Gold NL has signed a $38 million agreement with Macmahon Underground Pty Ltd for the construction of the Groundrush underground decline at the Central Tanami Project Joint Venture (CTPJV) in the Northern Territory. The decline, which will extend 3.5km to a depth of 350 meters, is expected to provide underground drilling platforms to facilitate approximately 33,000 meters of infill drilling, seeking to convert over 400,000 ounces of Inferred Resources to Indicated status. On-surface works are already underway, and portal construction activities are scheduled to commence in September. The decline construction period is expected to last 14 months. Other activities at the CTPJV site include resource definition drilling at the Jims Gold Deposit, repairs and improvements to the site's infrastructure, and recruitment of key roles.