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Vox Notes Commencement of Gold Mining at Myhree Project in Western Australia
TORONTO, ON / ACCESSWIRE / July 31, 2024 / Vox Royalty Corp. (TSX:VOXR) (NASDAQ:VOXR) (...
About this update from Vox Royalty Corp
[{"type":"text","content":"Vox Notes Commencement of Gold Mining at Myhree Project in Western AustraliaTORONTO, ON / ACCESSWIRE / July 31, 2024 / Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) (\"Vox\" or the \"Company\"), a returns focused mining royalty company, is pleased to share a recent production milestone from royalty operating partner Black Cat Syndicate Ltd. (\"Black Cat\"). Black Cat has commenced ore mining at the Myhree Gold Deposit, which is covered by the uncapped Bulong 1.0% net smelter royalty (\"NSR\") that Vox acquired for US$545,000 from an Australian automotive company in 2020.Riaan Esterhuizen, EVP Australia, stated: \"We are excited to acknowledge Black Cat's significant progress in achieving first ore mining ahead of schedule at Myhree this week in conjunction with the potential for an increase in open pit reserves, which were historically estimated at A$2,500/ounce compared to spot gold prices above A$3,500/ounce. Processing of this ore is expected to commence at the nearby Paddington mill in September 2024 and we expect significant developments for this new producing royalty asset over the coming quarters.\"Key UpdatesAccording to Black Cat's 29 July 2024 press release, mining is advancing rapidly at the Myhree gold deposit, which includes:Completion of site set-up and establishment and onboarding of personnel;24-hour operations, which started on 25 July 2024; andStage 1 of the 2 stage Myhree open pit has achieved first ore ahead of plan.First ore was mined on 26 July 2024 and stockpiled. The stockpile is on schedule to be hauled to the Paddington Gold Mill in September 2024, with the open pits to be mined and processed over ~18 months.Open pit Probable Ore Reserves at Myhree/Boundary (52koz @ 2.2g/t Au) (1a) were calculated at A$2,500/oz in June 2022. The Myhree/Boundary mine design is now being re-optimised by Black Cat to factor in current gold prices.Figure 1: First ore being loaded at the Myhree open pit(pink >3.0g/t Au, blue <3.0g/t Au).https://www.investi.com.au/api/announcements/bc8/18f14bc2-885.pdf Further BackgroundVox holds an uncapped 1.0% NSR over key areas of the Bulong Mining Centre, part of the Kal East Gold Project, including the Myhree and Boundary deposits.On May 20, 2024, Black Cat announced a funding, development and processing package for the fully approved Myhree and Boundary open pits:Black Cat entered in...