Crater Gold Mining has resumed technical work on development of the Nevera Gold Mine at its Crater Mountain Gold Project in Papua New Guinea. This is in line with the strategy outlined in the company’s reinvigorated strategic plan.

Technical consultants have been retained to work with Crater Gold’s newly proposed directors and management to confirm final mine plans.

Mining Associates Limited has been retained to assist the company confirm various mine planning parameters and develop a revised mine plan. In particular, Crater will work with Mining Associates to identify stoping blocks with gold grades in excess of 10 g/t, both above the 1960 level and between the 1930 and 1960 levels.

Mining Associates will also assist with confirmation of Crater’s recommended mining method and design of horizontal and vertical development between 1930 and 1960 levels, to most efficiently extract the targeted gold-bearing ore.

Minmet Services has also been retained to assist with metallurgy for restart of Nevera mine processing operations. Minmet’s scope of work includes metallurgical test work and analysis to confirm operating plans as well as direct participation in the re-start of operations and identification of opportunities for optimisation of the plant.

An early batch plant run with representative ore will be undertaken to collect plant data to ensure laboratory test work is aligned with actual plant operating conditions.

The detailed mine planning and plant optimisation work will be undertaken in parallel with the resumption of development of the 1930 level adit at Nevera. Crater has commenced preparations for such work and anticipates being in a position to resume development works within weeks of the completion of an Entitlement Offer which aims to raise up to A$15 million.

Crater’s newly appointed country manager Curt Church has been on site at the Crater Mountain project for the last few weeks taking care of various practical preparations for resumption of development works.

During his time on site, he has met with local landowners who expressed their support for advancement of the project including the clear potential for increased local employment.

The highly-experienced Alexander Molyneux is the company’s proposed chairman, and he has personally sub-underwritten $530,000 of the raising.

www.cratergold.com.au

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