A1 Consolidated Gold Limited (ASX: AYC) – $0.031

03 Mar 2015

A1 Consolidated Gold Limited (ASX: AYC) has commenced ore processing activities at the newly acquired Maldon Gold Operation located in Victoria.

 

On 29 December 2014 the company executed a Share Sale Agreement with Octagonal Resources Limited (ASX: ORS) to acquire its Victorian assets that include a fully permitted 150,000tpa gold processing facility at Maldon.

 

On 9 February 2015 the two companies entered into a Management Agreement and Deed of Variation to the Share Sale Agreement. The company was appointed with management control of the Maldon Gold Operation whilst both companies work towards completion of the Share Sale Agreement.

 

Since taking control of the Maldon Gold Operation the company has completed preoperational maintenance on the Maldon Treatment Plant (Figure 1) and commenced ore processing including crushing ore stockpiles at the Alliance South Deposit.

 

AYC Maldon Plant

Figure 1. Maldon Treatment Plant

 

 

Airleg stoping has commenced at the Alliance South Deposit with the development of two airleg rises between the 1080 and 1100 levels and the commencement of stoping of the ore body.

 

The company expects to complete its first gold pour in approximately three weeks.

 

 

For further information, visit www.a1consolidated.com.au

 

 

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