AuStar Gold Limited’s renewal of mining licence MIN 5299 has been approved by Earth Resources Regulation (Victoria).
MIN 5299 covers the Rose of Denmark gold mine in Victoria and several other prospective historic workings. The renewal of MIN5299 is for an additional three-year period and now permits mining beyond the prior bulk sampling restrictions, noting that mining activity remains subject to an appropriate and approved mine work plan.
AuStar stated that preparation of a mine work plan for Rose of Denmark has commenced in conjunction with external consultants and will be progressed with other exploration and development activity on site.
AuStar Gold CEO, Tom de Vries said that Austar Gold is pleased to announce the renewal of Mining License MIN5299 that covers not only the Rose of Denmark gold mine but also several other highly prospective historic workings.
“This renewal represents a significant milestone in the long-term security of the area after an extensive period of inactivity,” he said.
Mr de Vries further said that during the period of the joint venture with Shandong, development on the licence had stagnated. This inactivity had risked the loss of the mining licence when it was due for renewal in August of this year.
“AuStar Gold Limited management’s decision to aggressively push the project through a diamond drilling campaign followed by mining has allowed not only the mine to commence production but also allowed the company to firmly secure tenure for initially another three years. With the right to mine on the licence, AuStar Gold now has the full benefit from 100 per cent control of the asset,” he explained.
More information on this announcement and the Rose of Denmark gold mine can be found here.