(MENAFN- ABN Newswire)
Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) controls the Eastern Transvaal Gold Fields, where South Africa's gold mining industry began almost 130 years ago.
Theta's assets includes:
- over 62,000 hectares of gold mining rights which covers the majority of the Eastern Transvaal Gold Fields approximately 350km East of Johannesburg;
- over 6Moz of a combination of open-cut and shallow underground resources;
- CIL Plant and Tailings-Storage-Facility - to be re-commissioned and expanded
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Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). Following small scale production from 2011-2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
Bill Guy, Chairman Theta Gold Mines LimitedT: + 61 2 8046 7584E: nvestor RelationsAustralia: Ben JarvisSix Degrees Investor RelationsT: +61 (0) 431 271 538United States: Michael Porter Porter, LeVay & Rose IncT: +1 212 564 4700E:
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