Mount Morgan Mine Project
Mount Morgan is a gold and copper tailings project, located 38km south-west of Rockhampton, Queensland.
Historically, Mount Morgan was in production from 1883 to 1981 and for a time was the largest gold mine in the world. Between 1981 and 1991, 28Mt of tailings was re-treated before operations were suspended due to low gold prices and high cyanide costs. The Mount Morgan tenements include thirty mining leases of around 677 hectares, which are wholly owned by Norton. An agreement has been renewed with the Department of Natural Resources and Mining regarding the responsibility between the organisations for rehabilitation.
Norton has considered many options for the Mount Morgan project and we were pleased to team up with Raging Bull Mining (Raging Bull) and their partner Carbine Resources Limited (ASX: CRB) to take the project into feasibility stage (see ASX announcement dated 4 April 2014). Raging Bull will utilise innovative treatment and extraction technology that will treat the acid water and remove the copper that causes high cyanide consumption. In addition the tailings will be subject to gravity and flotation treatment so that the pyrite (sulphur) is removed and the concentrate treated to remove the sulphur. Raging Bull believe that by this means they can:
- Reduce operating costs associated with excess cyanide consumption
- Improve gold recoveries by reducing competition with copper in the gold circuit
- Provide an additional revenue stream via copper production
- Eliminate acid forming materials
Norton will continue to work with Raging Bull, Carbine Resources, the Department of Natural Resources and Minerals (Qld) and the local community to ensure we meet our objectives and obligations during the development process. In addition to the Mt Morgan tenements and Kundana plant acquisition, Raging Bull will also acquire Norton’s Many Peaks copper and gold exploration tenements.