Operations Update - Additional Toll Treatment
Western Australian Gold Exploration and Development Company
Excelsior Gold Limited is an Australian gold exploration and mine development company with a core focus on its 100% owned Kalgoorlie North Gold Project located 30 to 55 kilometres north of Kalgoorlie in Western Australiaís highly prospective Eastern Goldfields.
Exploration on the Project to date has delineated Mineral resources totalling 24.53 million tonnes at 1.76g/t Au for 1,385,100 ounces of contained gold.
The close proximity of the Companyís deposits to Norton Gold Fields Limitedís Paddington treatment plant has enabled Excelsior Gold to progress the development of the Project through a cooperative milling agreement with Norton Gold Fields. The long term Ore Treatment Agreement secures access to the Paddington Mill for the processing of 500,000 to 650,000 tonnes per annum of Excelsior Goldís ore for the next five to ten years.
The development of the Project is based on a multiple open pit and underground mining program extending over a current 88 month mine life. The initial base case Ore Reserves are 3.38 million tonnes @ 2.72g/t Au for 296,400 ounces of gold.
Open pit mining commenced in November 2015 and first ore delivery to the Paddington Mill occurred in December 2015.
The current mining schedule is centred on the development of only five of the most advanced deposits within the Projectís 22 resource areas. Extensive widespread gold mineralisation outside the currently defined resources and reserves provides opportunity for further resource expansion at both the existing deposits and in new resource areas.