STONEWALL RESOURCES: MAKING THE TRANSITION FROM GOLD EXPLORER TO GOLD PRODUCER
Stonewall Resources (ASX code: SWJ) holds a range of highly prospective gold assets, several of which are located in world-renowned South African gold mining regions. These South African assets include several surface and near-surface gold mineralisations broadly characterized as historical tailings dams and dumps, near-surface alluvial deposits, and outcropping mineralised quartz veins and fractures that provide significant cost advantages relative to operating more conventional deep mining operations.
Stonewall Resources began production from the TGME Project tailings operations in the 2nd quarter of 2011 and commissioned the second tailings operation at the Bosveld Project in the 3rd quarter of 2012, and is currently earning revenue from both operations.
Near-term projects target an increase in production to 40,000 ounces pa by the end of 2013, increasing to 205,000 ounces pa by the end of 2016.
The near-term objective of the Company's exploration strategy is to identify an additional 330,000 to 3,070,000 ounces of Mineral Resources by end 2013, including an upgrade of between 399,000 and 665,000 ounces from Inferred to Indicated by end-2013, with particular focus on the Company's TGME Project.
Beyond its current strategies, Stonewall has access to nearly 40 historical mines and prospect areas that can be accessed and explored.