Mt Freda Gold Project

Mt Freda Gold Project

Mt Freda lies 39 km southeast of Cloncurry and comprises mining leases ML2741 and ML2752 (total area 120.28 ha) held by Spinifex Mines Pty Ltd (of which Ausmex is to hold 80% and QMN 40%) (Spinifex).

Former tenement holder Diversified Mineral Resources NL (DMR) production averaged 88 – 90% Au recovery from its carbon in leach plant producing over 350 kg of gold. Depending on the level of success in establishing a mineral resource, Ausmex will assess this project for development through the use of the Gilded Rose plant described below. A low-cost heap leach operation will be considered as one of the production options. Project infrastructure and mine layout from previous operations may reduce development costs for such an operation.

Ausmex’s in-house technical team will undertake project planning studies including a drilling program, metallurgical test work, bulk sampling or trial mining and other feasibility work.

Mt Freda Project area (Circa 1990) – existing infrastructure shown – picture on right shows open cut ore body that was mined in the pit (left photo) in 1988-1990.