Goodenough Project
The Goodenough Project consists of Mining Lease M29/141 in the East Menzies Area of WA, 2.5 kilometres south west of the Granny Venn and Auntie Nelly Open Pits, previously operated by Goldfields Limited. The Project is a high-grade narrow ore zone of gold mineralisation, which has been partially drilled in the past and the mineralisation can be considered to be open down dip and along strike. At the surface, the strike extensions of the present Resource is not closed off to either the east or west or down dip at depth.
Modern exploration has expended an estimated $300,000 since 1969 on exploration and drilling, with an estimated $900,000 being spent on shaft sinking and horizontal development associated with the main shaft. There is an existing headframe, located overhead the shaft, and initial inspection suggests minimum work is required to bring the unit up to standard.
The current price of gold should provide a sound margin over cost figures generated from a typical, small scale, professionally run, high grade, and narrow vein underground mining operation. The Menzies area is well placed for the economic trucking to toll treatment plants, with good roads and access available to the site.
More information about the project is availabe in PDF below.