Reawakening a giant
Stonewall Resources is reawakening a giant goldfield in South Africa’s Eastern Goldfields, where South Africa’s gold mining industry began almost 130 years ago.
We are developing a fully permitted TGME gold project near the towns of Pilgrims Rest and Sabie in Mpumalanga Province 370km northeast of Johannesburg.
Our initial focus is on the Rietfontein mine in the southern part of TGME, near sabie, which contains a JORC resource of 2.55Mt @ 11g/t for 905,000oz of gold (indicated and inferred). The scoping study indicates a potentially low cost, 60koz a year underground development with a C1 cash cost of US$417/oz.
As well as Rietfontein and its entire 3.72Moz resource, the TGME project has a total of 43 historical mines across the vast prospective area of 62,000 hectares that contain about 35 million tonnes of pre-explored, pre-developed, pre-drilled, pre-blasted gold-bearing ore left over from almost a century of mining. The mines are easily accessible through existing shallow-angle haulages and adits.
To facilitate production, we will refurbish the existing TGME processing plant at Pilgrims Rest. The TGME plant has not produced commercial quantities of gold since 2015 and remains connected to the national electricity grid.