Operating Gold Mine For Sale, Marble Bar, Western Australia

Homeward Bound Gold Mine – Expressions of Interest Closing 1st July 2020

Mine Details

Commodity: Gold
Location: Australia
Terms: For Sale
Price: EOI

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Seller Website

Summary:

Permits and licensing approvals are current
A total of 69.1673 hectares
The 46m level and the sublevel development are at a stage where production can commence immediately.
Ore on the surface is approximately 500 ton @ a conservative average of 0.5oz/tonne
From sublevel development
Supported by assay results from 9gms to 930gms (ref: DDH HB010)
Treatment available at nearby Processing Facilities under contract.
Designated area onsite for future Crushing/Treatment

Location and Access:

Marble Bar, Western Australia
190 Kms S.E. of Port Hedland
Sealed Highway to the gate.
Local Sealed All Weather Airport
Airport being upgraded for 100 seat planes

Description:

Power & Water Infrastructure
Electricity
3 phase 100amp grid power HORIZON Power
Plus back up generator: Cummins 33kva

Water
Marble Bar receives its water supply from bores, 2–3 km west of the town, close to the banks of the Coongan River
Large Dam onsite
Surface area 2600sqm and approx. depth 6m
Poly lined, fenced and 90mm poly line from mine to dam
All pumps automatic on float switches
3 phase power cable underground from
power board to dam – not live
Government approved and Potable

Outstanding Opportunity
ML45/1255 HOMEWARD BOUND
Consolidated Exploration Ltd drill program on Outward Bound ore body proved 23,000t all above the 46m level. Assays average 12gm/t
The Homeward Bound ore body is intersected by a rise at 40m level – thus 17m vertical to previous workings. Surface work extends 100m west of shaft and 35m back to fault. Estimated to be 21,000t above the 46m level. Historical records average 26gm/t
ML 45/435A STRAY SHOT
Recorded production 266.6 kg gold from 4751.24t (ref: KH Morgan & Associates report 1983). From a CRAE drill program DH SS1 depth 24m-29m 5m wide assayed 19.4 gm/t

Significant Underground Development
M R Millwood Pty Ltd collared shaft – 1200mm x 1800mm
Cement lined to 10m
Installed ventilation fan
Scaled down and rehab to 30m sump
Installed vacuum ore lifter – 250 steel pipe to surface
– twin fan – 500hp Mercedes V12 at 1500rpm - fan speed 2500rpm
Capacity 5t/hour wet dirt – 10t/hour dry dirt
Commenced sinking – shaft 46m to main level
Loading station at 52m
Sump at 56m
Plat on main level 6m high x 8m long
Rise from loading station level Grizzly over rise on main level
Rise directly above grizzly cut Homeward Bound
orebody 6m up
41m drive east
13m up to sublevel to Outward Bound orebody
From sublevel, 8m rise to intersect DDH HB010
No drilling has been done below 46m however the ore body is open at that depth and along strike.
2006 M R Millwood Pty Ltd commenced rehabilitation of the existing shaft. A traditional airleg miner focused on development.
Current mining methods are:
Panther/air leg drilling
Twin drum scraper delivering to grizzly
To surface via vacuum sucker

Marble Bar Services
Shire of East Pilbara
Dept of Mines, Regulation & Safety
Police Station; Bar General Store, Australia Post and Bakery
Community Resource Centre
Nursing Post staffed by 2 remote area nurses; Royal Flying Doctor clinic every Thursday and in an emergency
Iron Clad Hotel; Travelers Rest Motel; Caravan Park
Marble Bar School (to Year 12)
Horizon Power
Airstrip – sealed – 1200m long. Planned $7 Million upgrade in 2021 allowing for 100 seat planes. Media Release 26th April 2020
Marble Bar Electrical
Fuel delivered when required
Explosives delivered when required by Dyno Nobel

Existing Plant Equipment in Operation
An operating Mining Lease with all approvals and licenses granted and a long history of production
Licensed Explosive Magazine
Mobile Headframe
Hoist
Power Supply with backup generator
Vacuum Ore Lifter
Air Supply with backup
Dewater Pumps
Ventilation
Drill
Scrapers
Air Powered Sledge

Geology:

Mineralisation discovered has been within/above Outward Bound East reef horizon. The lower of two previously worked reefs, the upper being the Homeward Bound reef. Both reefs dip at shallow angles (average 25 degrees) to the south west and are open in all directions.
7 holes have intersected significant values in the main auriferous body:
Highest – 915gm/t (32.8 oz/long ton) between 31.70m and 31.79m in hole HB010
3.22m thick section in this hole gave a weighted average assay of 29.62gm/ton (1.06 ozs/long ton).
The widest mineralised section recorded in hole HB001 where a 13.47m thick section gave a weighted average assay of 3.11gm/t

History:

Historical Exploration – Significant Events and Results

Recorded production for Homeward Bound & Outward Bound leases 1898 – 1935 - 5,036t ore – 4496 ozs gold (26.78 gms recovered).
1980 – 1982 Consolidated Exploration Ltd conducted drill programs
14 holes drilled – 8 intersected significant gold mineralisation.
1982 report concluded probable reserves calculated to be 23,000t at 12 gms/t
Mineralisation discovered has been within/above Outward Bound East reef horizon. The lower of two previously worked reefs, the upper being the Homeward Bound reef. Both reefs dip at shallow angles (average 25 degrees) to the south west.
7 holes have intersected significant values in the main auriferous body:
Highest – 915gm/t (32.8 oz/long ton) between 31.70m and 31.79m in hole HB010
3.22m thick section in this hole gave a weighted average assay of 29.62gm/ton (1.06 ozs/long ton).
The widest mineralised section recorded in hole HB001 where a 13.47m thick section gave a weighted average assay of 3.11gm/t
No drilling has been done below 46m however the ore body is open at that depth and along strike.
2006 M R Millwood Pty Ltd commenced rehabilitation of the existing shaft. A traditional airleg miner focused on development.
Current mining methods are:
Panther/air leg drilling
Twin drum scraper delivering to grizzly
To surface via vacuum sucker

Photos:

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