Tulla Resources (ASX:TUL) pour first gold at Norseman
October 14, 2022Tulla Resources has reached a momentous milestone with the first gold pours at its 50% owned JV Norseman Project in Western Australia.
JV project with Pantoro Ltd (ASX:PNR) has marked getting production underway with approximately 8 kilograms of the precious metal from the leaching circuit yesterday.
Mill throughput is set to ramp up to nameplate capacity of 125 tonnes per hour over the current December 2022 quarter.
The Manager has also reported that the processing plant is now operating reliably with uninterrupted operations for the past eight days.
The Company said mining operations at the Scotia Mining Centre open pits and the OK Underground Mine are on track, with 160,000 tonnes of feedstock available for processing.
“This is a momentous occasion for one of Australia’s iconic gold mines – the resumption of production at Norseman with the first pour from the JV with Pantoro,” Executive Chairman Kevin Maloney said.
“This is a tribute to the focus and commitment of Tulla Resources and our JV partner, Pantoro who have also managed the process with great dedication and acumen and deserve the Company’s appreciation for their sterling efforts.
“We are excited for all involved and especially our loyal shareholders.”
The Company’s ASX shares are 44c at Market Open.
About the Norseman Gold Project
The Company’s flagship asset is a 50% interest in the Central Norseman Gold Project (the “Project”), a historic gold province near the town of Norseman in the Goldfields of Western Australia, which commenced operations in 1935.
ASX-listed company Pantoro Limited holds the other 50% in the Project through its wholly owned subsidiary, Pantoro South Pty Ltd (“Pantoro South”), via a farm-in and joint venture agreement dated 14 May 2019 (“FJVA”). Pantoro South is the Manager of the Gold JV.
The Project is located at the southern end of the Norseman-Wiluna greenstone belt in the Eastern Goldfields Province of the Yilgarn Block in Western Australia, approximately 725 kilometres east of Perth, 200 kilometres south of Kalgoorlie and 200 kilometres north of Esperance. The Project comprises 155 near-continuous mining tenements (including pending applications) over approximately 70 kilometres of strike covering about 750
square kilometres. The Project has produced more than 5.5Moz of gold since 1935 and is considered one of the highest grade, large-scale gold projects in Western Australia.
The total Mineral Resource for the Norseman Project (100%) is 4.8 million ounces of gold with an Ore Reserve of 973,000 ounces.
The Project is serviced by existing infrastructure supported by the local Shire and State infrastructure, with a new 1.0Mtpa carbon in leach processing plant now in production.
About Tulla Resources Plc
Tulla Resources is a diversified Resources House whose primary asset is its 50% interest in the flagship Norseman Gold Project.
In 2007 Norseman Gold Plc acquired Central Norseman Gold Corporation Pty Ltd (CNGC), the operating entity of the Gold Project. Norseman Gold Plc changed its name to Tulla Resources Plc on 30 December 2020.
On 17 March 2021, Tulla Resources Plc was admitted to the Official List of ASX, and the Company commenced trading on 18 March 2021.
Tulla Resources has focused on working closely with its joint venture partner to bring the Gold Project back into production. The Norseman Gold Project also provides an excellent opportunity for exploration and future production growth, as demonstrated by the excellent results from the exploration program centred on the Scotia Mining Centre.
Tulla Resources has an experienced and well-credentialed Board. The Company has a strategy of developing and acquiring other resource assets to provide commodity and geographical diversity.
In December 2021, with its JV Partner, Pantoro South, the Company entered into a binding term sheet with a Mineral Resources Limited (MIN) subsidiary concerning its lithium deposits at Norseman.
Concerning its 100% iron ore asset at Norseman, in June 2022, Tulla Resources entered into an Offtake and Funding Agreement with Constance Iron Limited (formerly Koch Metals Limited), subject to the condition precedent of Constance Iron Limited listing on the London Stock Exchange.
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