Since its discovery in the late 1980s, the Marymia property has produced 342,000 oz. gold, mostly from shallow oxide open pits. However, mining was discontinued in February 1998.
Recent exploration has delineated additional oxide mineralization, while two declines have been constructed to gain access to underground material. The mineral inventory stands at 789,000 oz. gold.
The mine is accompanied by a plant capable of processing 660,000 tons per year.
“Together with Homestake’s existing properties, Marymia gives Homestake control of the entire Plutonic Well greenstone belt,” says Homestake’s chairman, Jack Thompson.
The Plutonic belt, a northeasterly trending package of rocks stretching more than 30 miles, remained relatively unexplored until only 10 years ago. Since that time, more than 25 individual gold deposits have been located.
Few drillholes have tested below the oxide material at Marymia, Thompson said, adding that the company intends to evaluate the potential for deeper mineralization.
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