CHINA HANKING: GOLDEN PIG gold mine receives drainage project approval
CHINA HANKING announced that the Western Australian government has approved the underground dewatering project for the Golden Pig gold mine, allowing the discharge of groundwater into the tributary of Koorkoordine Lake. This approval will reduce the costs of underground mining operations and provide an opportunity for early planning for the development of the Golden Pig gold mine. The project is 100% owned by Hanking Gold Limited and is expected to produce over 90,000 ounces of gold annually
According to the announcement from CHINA HANKING (03788), the Western Australia Government's Water Resources and Environmental Regulation Authority has granted approval for the underground drainage and discharge into the Koorkoordine Lake tributary related to the Golden Pig gold mine, after thorough consultation with relevant authorities and local communities, under Section 102(1)(c) of the Environmental Protection Act 1986. The groundwater from the Golden Pig gold mine will be discharged into the nearby lake as per the approval requirements. This approval allows for the low-cost discharge of underground mine water before underground mining operations commence at Golden Pig.
The Cygnet gold mine project is located approximately 360 kilometers east of Perth, Western Australia. It includes the high-grade Golden Pig and Copperhead underground gold mines, as well as the Corinthia open-pit gold mine, with a total JORC-compliant resource of 2.06 million ounces and an average gold grade of 2.55 grams per ton. The project is 100% owned by Hanking Gold Limited, a subsidiary controlled by the company. The company plans to produce over 90,000 ounces of gold annually at the processing plant located in Corinthia through two high-grade underground mines and one open-pit mine. The relevant authorities are currently evaluating the mining plans for the two underground mines, while the mining plan for the open-pit mine, along with the processing plant and tailings storage facility plans, will also be submitted for approval shortly.
Regarding this project approval, Dr. Qiu Yumin, Executive Director and Vice President of the company, as well as Managing Director and CEO of Hanking Gold, stated: "Obtaining this important approval is the result of our team's collaboration with all stakeholders, including government authorities and local communities. This approval makes it possible to discharge groundwater at a low cost. More importantly, it provides us with the opportunity for early planning to accelerate the development of this high-grade underground gold mine and create value for all stakeholders."
