Unity Mining Limited is an Australian gold company which operates the Henty Gold Mine (100%) on the north coast of Tasmania and is developing the Dargues Gold Mine (100%) in New South Wales. Henty is already producing 50,000 ounces of gold per year, and Dargues is targeting output of the same quantum annualised by 2015. The company’s 35%-owned London-listed Goldstone Resources Ltd is involved in gold exploration in West Africa. Unity also holds the historic Bendigo Goldfield (100%), situated in Central Victoria.
LionGold owns 12% of Unity Mining Limited.
The Henty Gold Mine is located on the West Coast of Tasmania in the upper Henty Valley, with the towns of Rosebery, 10km to the north, Zeehan, 19 kilometres to the west and Queenstown, 23 kilometres to the south. The underground mine began production in 1996. Annual production peaked in 2004 at 140,000 ounces and has since stabilised at 50,000 ounces, with a Life of Mine of five-plus years. The process plant has an annual plant capacity of 300,000 tonnes per year and utilises a static grizzly, SAG mill, gravity circuit and conventional CIL plant. The project holds 2.06 million tonnes of ore containing 338,000 ounces of gold resource at 5.1 grams per tonne, with reserves of 133,000 ounces.
Henty lies within the mineral-rich Mount Read Volcanic Belt that hosts the Hellyer, Que River, Rosebery, Hercules and Mount Lyell base metal deposits. The eastern side of the belt is dominated by the Henty Fault which runs north-east for over 60 kilometres between Mount Charter and Mount Read. The Henty operation is based on a series of structurally complex high-grade zones of gold mineralisation that occur within a package of highly altered volcanic rock adjacent to the Henty Fault.
Access from surface to the series of ore bodies at Henty is via shaft and decline, linked to a common portal exit. Mining methods used at Henty vary according to the ore body geometry and geotechnical characteristics of the ore body and host rock. Among these are are longhole bench stoping, transverse open stoping and cut-and-fill.
Dargues Reef is part of the 659 square kilometres Majors Creek Gold Project situated approximately 60 kilometres southwest of Canberra, just north of the village of Majors Creek. Unity holds 100% of the project since its purchase of Cortona Resources in early 2013. Currently under development, Dargues Reef will comprise an underground decline mine, a run-of-mine pad, temporary waste rock emplacement, crushing facility, gold processing plant, tailings storage facility and associated infrastructure situated on 403 hectares of freehold land. Due for start-up by the end of 2013, the mine is targeted to ramp up quickly to an annualised production rate of 50,000 ounces per year. Dargues Reef holds 2.17 million tonnes of ore containing 327,000 ounces of gold resource at 5.3 grams per tonne, with reserves of 233,000 ounces.
The project is located in the highly prospective Lachlan Fold Belt of the Southern Tablelands region of New South Wales. The area represents the largest alluvial goldfield in the state, with gold production at the turn of the last century estimated at 1.25 million ounces. In addition to Dargues Reef, some 24 other historic hard rock mines have been verified. Mineralisation occurs in various types of quartz veins, and much of the gold is free-milling.
GoldStone Resources is London-listed and 35% held by Unity Mining. Five exploration projects are underway in West Africa, headed by an experienced South African-based team. The Homase / Akrokerri gold project is the key asset in which GoldStone has the right to earn up to an 85% interest. The tenements are located some 15 kilometres northeast of AngloGold Ashanti’s 33 million ounce Obuasi mine, which produces over 200,000 ounces per year. A gold resource of 602,000 ounces has been identified, just below a pit which had been mined by AngloGold Ashanti in 2002 and 2003, when gold prices were low.
Other GoldStone assets include:
- Ghana: Manso Amenfi, located along a trend of intense artisanal gold mining.
- Senegal: Ngoutou, located in southeastern Senegal near the border with Guinea, just south of Randgold’s 3.4 million ounce.
Australia’s Bendigo Goldfield is the country’s second largest in terms of historical production, having produced some 22 million ounces of gold over the past 160-plus years. Unity Mining owns 100% of the historic tenements.