Castlemaine Goldfields

Victoria, Australia

Castlemaine Goldfields is a gold explorer and producer with five significant tenements in Australia’s historic central Victoria gold belt, collectively covering over 350 square kilometres. Underground mining and ore processing was restarted at the Ballarat tenement in 2011 and is currently producing approximately of 46,000 ounces of gold per annum.

Castlemaine Goldfields

Castlemaine was acquired by LionGold in August 2012 following a successful takeover offer, which attracted more than 90% acceptances. Castlemaine was subsequently removed from the official list of the ASX in September 2012, and the acquisition of the balance of Castlemaine shares was concluded in December. Castlemaine owns 100% of three of its five tenements outright and has a farm-in agreement with Navarre Minerals for the northerly Raydarra and Sebastian tenements.

The Company’s assets are within proximity of the established regional gold mining centre of Bendigo, an area which has produced over 1.4 million ounces of gold at a grade exceeding 9 grams per tonne from the 1850s. The active Ballarat mine is located some 115 kilometres northwest of Melbourne. Facilities include a fully commissioned 600,000 tonne per annum mill, gravity and leach circuits, an assay lab and a stores warehouse. High standards of environmental practice include rehabilitation and land management activities, a fire reduction programme and an active working relationship with Parks Victoria.

Underground mining and ore processing at Ballarat was restarted in 2011, and the first gold pour under a new management team was achieved in September that same year. Production was ramped up in 2012, and by June, the underground development was sufficiently advanced to include a number of working areas, progressively trending north.

LionGold, through its wholly-owned subsidiary, Castlemaine Goldfields, operates a well-established gold mine at Ballarat in Australia’s premier Victoria gold belt and owns several tenements around the Ballarat Gold Mine and in nearby goldfields. Besides the producing Ballarat Gold Mine, Castlemaine Goldfields’ other main asset is its regional exploration land holding.

Castlemaine Goldfields produces approximately 40,000 ounces of gold per year at the underground Ballarat Gold Mine with facilities that include a 600,000 tonne per annum processing plant with gravity gold and concentrate recovery circuits.

The Ballarat Gold Mine maintains its production rate with an underground drilling programme targeting resources adjacent to existing workings. The Ballarat Gold Mine has significant additional potential for mine life extension at depth, along and across strike from the current workings.

The Ballarat Gold Mine continued to operate throughout FY2020, with production largely achieving target levels. In FY2020, the Ballarat Gold Mine processed approximately 357,000 tonnes of gold-bearing ore through its gold processing plant, at a grade of 4.50g/t and produced 42,697 ounces of gold. Total all-in sustaining cost in FY2020 was A$2,466 per ounce of gold produced. The average selling price for the period under review was A$2,246 per ounce of gold sold.

The Ballarat Gold Mine drilled 733 underground diamond drill holes in FY2020, totalling 87,382 metres. The drilling centred on the continuation of exploration efforts in the Victoria, Britannia, Llanberris, Canton, Sovereign and Normanby compartments. The purpose of this core drilling was to identify geological conditions related to gold mineralisation and to identify mineralisation or significant structures. This drilling was a combination of exploration and in-fill drilling – the former activity conducted to discover further sources of gold-bearing mineralisation, the latter to better define known areas and improve the level of knowledge to allow detailed mine planning to be completed ahead of mining.

Some 4.41 kilometres of tunnels were developed underground with 303,021 tonnes of waste rock removed in the process. Some 349,672 tonnes of ore were mined at an average grade of 4.50g/t.

In FY2020, significant progress was made developing towards and in the deeper mine levels of the Normanby compartment focusing on mineralisation on the Mako Fault Zone. Higher up in the mine, immediately below the historic New Normanby Mine (the 1650 – foot level) stoping of remnant ore was successfully completed without incident. At 30 June 2020, preparations were well underway to recommence mining in the Sovereign and Britannia compartments to augment mine feed from the existing Canton and Normanby Mining areas. Works aimed at raising the capacity of the current Tailings Storage Facility (“TSF”) with an upstream lift were completed in FY2020. Works continued on the planning, permitting and designing of a new TSF to support future operations. CGT’s exploration focus remains centred on the western Central Highlands of Victoria. At 30 June 2020, the Group holds five Exploration Licences, one Retention Licence and two Mining Licences. In addition, the Group has nine Exploration Licence Applications in process. The primary focus of exploration remains the Ballarat Gold Mine where the Group has consolidated the entire 16-kilometre strike length of the field. The distribution of other tenements under the control of the Group provide exposure to multiple goldfields within the highly prospective Victorian exploration domain, and exposure to multiple mineral commodities.

  • History
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  • Geology
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  • Regulatory Reporting
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  • Castlemaine Goldfields Tenements
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  • Ballarat
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  • Castlemaine
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  • Berringa
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  • Tarnagulla
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  • Sebastian / Raydarra
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    Location & Historical Production
    from Castlemaine Goldfields’ Tenements

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