Business
Vox Royalty Provides an Update for the Janet Ivy Gold Mine and Files a Technical Report on SEDAR
TORONTO, Oct. 5, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is p
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, Oct. 5, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (\"Vox\" or the \"Company\"), a high growth precious metals focused royalty company, is pleased to announce an update on the producing Janet Ivy Gold Mine (\"Janet Ivy\") in Western Australia, controlled by Norton Gold Fields Pty Ltd. (\"Norton\"); a subsidiary of Hong Kong and Shanghai-listed, Zijin Mining Group Co., Limited (\"Zijin\"). Vox holds an uncapped A$0.50/tonne production gold royalty over Janet Ivy, which forms the core of Zijin's Binduli North heap leaching expansion project (\"Binduli North\"). In addition to the Janet Ivy acquisition announcement by Vox on March 29, 2021, Vox has now filed on SEDAR a technical report, \"NI 43-101 Technical Report, Janet Ivy Gold Mine (M26/446), Western Australia, Australia\" dated October 5, 2021 by Kangari Consulting LLC. According the Zijin's latest public disclosures, the Binduli North expansion is targeted for completion as early as March 20221, which was the key near-term catalyst that Vox management anticipated when the royalty was acquired in March 2021. Vox congratulates Zijin on rapidly advancing the project to the commencement of construction in June 2021 and now looks forward to reaching the expansion completion milestone. Riaan Esterhuizen, Executive Vice-President – Australia stated, \"The Binduli expansion was the key near-term catalyst that Vox management anticipated when we acquired the Janet Ivy royalty in March 2021. The Binduli North heap leach expansion is expected to re-rate Janet Ivy royalty revenues from 2022 onwards. This royalty has the potential to generate A$1.5M – A$2.5M of annual revenues from Binduli North production on average across the life of mine and assuming a target production rate from Norton Gold of 5Mtpa from Binduli North.\" Asset Overview – Janet Ivy Gold Mine Janet Ivy is located on mining lease, M26/446 and is located 10km to the west of Kalgoorlie. The deposit has been mined since 2017 as an open-cut mine to supplement baseload ore feed from the Enterprise open pit mine for the Norton-owned 3.7Mtpa Paddington Mill.2 On April 28, 2020, Zijin announced that the Zijin Board of Directors had approved the construction of the Binduli 15Mtpa heap leaching project, with the first phase at Binduli North expected to be completed and first production to commence...