Australian Stock Exchange listed mining and exploration company, Ragusa Minerals Limited has received Environmental Impact Assessment (EIA) development approval from Zimbabwe’s Environmental Management Agency (EMA), to conduct gold mining and processing operations at Lonely Mine Gold Project in Bubi.
The 100 per cent Ragusa owned mine was one of the top seven producing operations in Zimbabwe during its peak production period (1914-1930), producing ~50,000oz Au per year, with overall life-of-mine gold production recorded as 1,118,383oz with an average recovered grade of 17.50g/t Au (Bartholomew 1990). Operations on the Lonely Mine re-commenced during the 1970s when the Lonely Mine was the single largest gold producer in the region until its closure in the mid-1990s.
According to Ragusa chairperson, Jerko Zuvela the EIA is significant for the development of the Bubi project.
The EIA certificate confirms regulatory approval for the development of gold mining and processing operations at the Project, including the Tiberius prospect, and was issued for a period of two years (with renewal thereafter).
“This is a significant milestone for the potential development of our Lonely Mine Gold Project. Together with our recently completed maiden diamond drilling campaign at the high-grade Tiberius prospect, where we look forward to receiving the sample analysis results over coming weeks to assist in determining the scale and nature of our project.” Ragusa Chairperson, Jerko Zuvela said.
The EIA approval allows full commercial development of the Project to proceed, as and when determined by the Company, and removes any potential future regulatory delay to develop the project to commercial scale.
The Lonely Mine Gold Project comprises four granted tenements (Mining Claims) covering an area of 44 hectares
- Lonely Mine A (Registration Number 10632BM)
- Tiberius 14 (Registration Number 33599)
- Tiberius 32 (Registration Number 35732)
- Tiberius 33 (Registration Number 35733)