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ASX:ADG
Targeting Near Term Australian Gold Production
Adelong Gold Limited (Adelong Gold) is a minerals explorer that owns the Adelong Gold Mine in New South Wales (NSW). The Company is on the path to becoming a mineral producer.
In May 2020, the Company acquired the Adelong Gold project located in the township of Adelong, Southern NSW, approximately 20km from Tumut and 80km from Gundagai. The acquisition presented an opportunity to acquire a near term producing mine in the company’s preferred commodity, gold. The Adelong goldfield boasts historic production of more than 800,000 oz and the acquisition included real estate, plant and equipment, 16 exploration permits covering 70km2 including a mining permit covering 1.5km2.
Since its acquisition of Adelong the Company has increased JORC compliant resources, completed several drilling and exploration programs to identify potential future opportunities for resource expansion at Caledonia and Gibraltar, and has completed a detailed scoping study evaluating project logistics and economics supporting a plant redesign and mine reopening.
”… Not only is reopening the mine viable, but substantial further resource opportunity exists within the project and the region. We are now progressing to begin the next steps to take advantage of that opportunity.
Peter Mitchell, MD
”Since acquiring the project, we have been exploring development options for the asset.
Peter Mitchell, MD
🗞️Via @proactive_ca "40 billion reasons why these gold companies could be priceless" ⛏️ "We are expecting continued uncertainty in global financial markets during 2023 and this can only support a continued positive trajectory in the #gold price." "Given proactiveinvestors.ca/compani…… twitter.com/i/web/status/1…
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