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A1 Consolidated Gold Ltd mills high-grade gold from Victorian mine

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A1 Consolidated Gold Ltd (ASX:AYC) has milled 1,558 tonnes at 24.9 g/t gold mined from the A1 Gold Mine near Woods Point, Victoria during June.

The milling was done at the Porcupine Flat processing Plant near Maldon and achieved 97.8% recovery. A1’s gold sales in June were in excess of $1.4 million.

The mined ore was obtained from drilling at the A1 Gold Mine as part of a resource upgrade for the Phase 1 Drill Target area.

Phase 1 Drill Target area is only a small portion of the much larger resource at A1 Gold Mine of 281,200 ounces gold.

The total resource at Phase 1 Target Area has been updated to 9,600 ounces, including a maiden measured resource of 5,000 tonnes for 2500 ounces of gold at a high grade of 15.53 g/t.

Moving forward, it is anticipated that the company will mine the bulk of the ore tonnes at Phase 1 with mechanised methods and will utilise a team of airleg miners to exploit the periphery of the orebody.

Meanwhile, A1 is undertaking considerable work to upgrade and improve the A1 Gold Mine’s services and networks to resume mechanised mining.

This includes upgrades and development work on ventilation network, primary pumping system, emergency escape ways and ground support of permanent excavations.

Gold price in Australian Dollars has climbed to circa A$1772 an ounce.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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ASX:AYC
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