Genesis secures Stage 1 approval for Tower Hill
ASX-listed Genesis Minerals has received approval from the Western Australian Department of Mines, Petroleum and Exploration for the Stage 1 Mining Proposal and Mine Closure Plan at its Tower Hill project, near Leonora.
The approval, which covers mining outside the existing rail reserve, keeps Tower Hill on track for development in the 2027 financial year and first ore in the 2028 financial year. Agreements with rail users relating to shortening the nearby line, required for Stage 2, are expected to be finalised before the end of the calendar year.
Located just 1 km from Genesis’ Leonora processing plant, which is currently the subject of an expansion study, Tower Hill will be integrated into the company’s broader growth strategy. The mine plan comprises a single openpit with a one-million-ounce ore reserve at 2 g/t gold, a strike length of 1.4 km and a strip ratio of 9:1.
Genesis highlighted the project’s strong drilling results, with intercepts including 55 m at 3.9 g/t gold, 50 m at 5.0 g/t, 51 m at 4.4 g/t and 49 m at 5.5 g/t. Tower Hill has been drill-tested only to about 450 m depth, and a study into a potential underground transition is advancing.
“Stage 1 approval is an important piece of our accelerated Aspire 400 growth jigsaw,” said MD Raleigh Finlayson. “It ensures we have the flexibility to align the start of mining at Tower Hill with the mill expansion strategy, enabling us to optimise the timing of costs and revenues.”
Finlayson added that when combined with the recently acquired Focus assets at Laverton, Tower Hill provides a pipeline of organic growth opportunities that will give Genesis “very valuable processing flexibility”.
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