Stonewall Resources is reawakening a giant goldfield in South Africa’s Eastern Goldfields, where the country’s gold mining began almost 130 years ago. We are developing our fully permitted near-surface 3.4Moz TGME gold project near the towns of Pilgrims Rest and Sabie in Mpumalanga Province 300km northeast of Johannesburg. Our initial focus is on Rietfontein in the southern part of TGME, which con
tains 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 3.4Moz resource, the TGME project has a total of 43 historical mines across the vast prospecting acreage 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. It is easily accessible by opening existing shallow-angle haulages and adits. To facilitate production, we will reburbish the existing processing plant.
