Tribune Resources (ASX: TBR) has released its quarterly activities report for the period ending 31 March 2020.
HIGHLIGHTS:
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Drilling activity was increased at the Japa Project with the deployment of four rigs to site which resulted in an increase in exploration spending from $350k in the December 2019 quarter to $2.7m in the March 2020 quarter.
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Work continued on the Diwalwal Gold Project in getting the site prepared for drilling, setting up an operational base in Davao and surface exploration in the Upper Ulip lease with a total of $1.5m spent on exploration activity for the March 2020 quarter compared to $2.1m in the December 2019 quarter.
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During the quarter, 35,016 tonnes of EKJV ore were processed at the Kanowna Plant, 12,348 tonnes of R&T ore were processed at the Lakewood Mill and 109,037 tonnes were added to the R&T stockpiles.
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7,045 ounces of gold and 801 ounces of silver were credited to Rand and Tribune Bullion Accounts. (Tribune’s share is 75%)
GEOLOGY AND MINING
East Kundana Joint Venture
Raleigh Underground Mine Production
As detailed in the EKJV Production Update, released to the ASX on 3 February 2020, a large seismic event occurred at Raleigh on 14 January within the lower Raleigh South stoping blocks which caused major disruption to mining activity.
The impact of this event and continued seismic activity has resulted in the suspension of mining operations at Raleigh from mid-April. The mine will be placed on care and maintenance but still utilised for resource development drilling platforms.
A comprehensive study will assess the economics of recommencing mining. The Company notes that operations at the other mines were unaffected by the seismic event and are continuing. Stope production from the 6102, 6031 and 5983 to 5949 levels at Raleigh continued during the quarter.
