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Fosterville Mine site Perseverance Exploration Pty Ltd is a fully owned subsidiary company which operates the Fosterville Gold Project, 20 km east of Bendigo in Victoria. This is the company’s major project. While the Fosterville field dates back to the 1890’s, Perseverance has been open cut mining oxide ore on the site since mid 1992. The Fosterville gold project is a substantial mineralised system with potential to be developed and expanded as a significant gold producer. A detailed drilling programme has defined resources in excess of 2 M oz of gold which is mined by open pit an underground mining operations. These open pit operations recommenced in April 2004 and underground mining is scheduled to commence in early 2006. Work on the testing and development of the deeper, sulphide mineralisation has commenced. Construction of the processing plant was completed and the company expects to produce 100,000 ounces of gold per year over the next 8 - 10 years. Treatment of the sulphide material is by bacterial oxidation. Gold production commenced in early 2005 and will double Victoria's current gold output. Previous Operations Perseverance also operated gold mines at Nagambie and Bailieston which have produced a total of 146,000 ounces of gold. These mines have now been largely rehabilitated and the substantial rock dumps from mining have been, and are likely to be further utilised for road works on the nearby Goulburn Valley Highway upgrade. Perseverance Corporation Limited, from its earlier work at the Fosterville gold mine, produced more than 385,000 ounces to end July 2002. |
ASX Annoucements |
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27/02/2008 - Public Announcement - MG Mining Contract(PDF 49kb) 27/02/2008 - Executive General Manager Northgate Australia Appointed(PDF 21kb) |
Quarterly Report |
14/01/2008 - Quarterly Report Dec 2008(PDF 1.04Mb) |
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| Community Newsletters |
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Community Newsletter February 2008 |
