Tennant Mining commences construction of gold processing facility

Highlights:

• Tennant Mining’s conventional 840 000 tpa CIL gold processing facility is being relocated from Cloncurry in Queensland and constructed at its Nobles project area approximately 14 km southeast of Tennant Creek in the Northern Territory.
• The project is expected to generate about 80 jobs during construction and more than 160 jobs after operations ramp up. Tennant Mining plans to complete construction and commissioning of its facility in 2Q25, with commercial production scheduled to occur in 3Q25.
• Tennant Mining will initially focus on processing existing stockpiles and tailings at Tennant Mining’s Nobles opencast mining complex, then development of other opencast and underground mines in the Tennant Creek Mineral Field including:
  • Tennant Mining’s Juno, Rising Sun, Weabers Find and Warrego project areas.
  • Emmerson-Tennant Mining JV areas including the Black Snake, Chariot, Golden Forty, Mauretania, Eldorado, Marathon-Troy and White Devil deposits as well as any additional discoveries from ongoing Joint Venture exploration efforts.
• Emmerson will receive a 6% gross production royalty on any gold produced from the Joint Venture tenements.
• The JV partners’ ongoing exploration programmes have been designed to extend the life of mining operations.

Emmerson’s Chairman, Andrew Mcllwain commented: “Emmerson is pleased to announce that its Joint Venture partner, Tennant Mining, has commenced construction of the Nobles CIL gold processing facility. To have progressed through the study, development and financing phases and now into construction in under four years is a credit to the Tennant Mining team.

“Tennant Mining’s central processing facility is the long-awaited key to unlocking the development of resources and restarting larger scale mining production across the high-grade Tennant Creek Mineral Field. As always envisaged, the future restart of gold production from Emmerson’s assets provides a low risk return for Emmerson’s shareholders through the 6% gross production royalty payable on gold produced.

“Emmerson looks forward to continuing our partnership with Tennant Mining to undertake further exploration, additional studies, development and production from the Emmerson-Tennant Mining Joint Venture tenements.

“Royalties from the Joint Venture tenements, along with any minimum production payments Emmerson may be entitled to under the Joint Venture agreements, should result in a substantial low risk return for Emmerson.

“With current cash reserves of approximately AUS$3.2 million and Tennant Mining needing to fully fund a further AUS$3.8 million of exploration to complete their joint venture earn-in commitment over the next two years, Emmerson is in a very strong position to continue exploration on the Emmerson-Tennant Mining Joint Venture tenements as well as Emmerson’s 100% owned Tennant Creek and New South Wales exploration projects.”

Tennant Mining’s Managing Director, Peter Main added: “Commencing development of Tennant Mining’s fully funded Nobles Gold Project is a major milestone for the company and all stakeholders who have toiled hard over the last four years. It is exciting times to see the revival of one of Australia’s historically highest grade gold provinces and more importantly the resurgence of commercial scale gold mining in Tennant Creek after almost two decades. Tennant Mining, through the support of its local and Territory based stakeholders, is focused on contributing toward unlocking the growth of Tennant Creek through its investment in the Barkly Region.

“As a result of the development, there will be over 80 construction jobs and 160 long-term jobs once the project reaches steady operational state over the first two years as well as substantial local jobs and business opportunities for the Traditional Owners and Tennant Creek community.

“We are committed to the region and while mindful of its history, are cognisant of the impact a largely derisked centralised processing facility will have. We are excited by the opportunity that presents, not only for the project as it stands, but also the potential of unlocking significant exploration potential and further consolidation in the greater Tennant Creek Region.”

Read the article online at: https://www.globalminingreview.com/mining/18062024/tennant-mining-commences-construction-of-gold-processing-facility/