Opportunity to Acquire a Near Term Gold Producing Project in Queensland

Tombola Gold Ltd (Subject to Deed of Company Arrangement) (Receivers and Managers Appointed) and its subsidiaries (Tombola Gold). 

Expressions of interest are being sought for the purchase of some or all of Tombola Gold’s assets.

Tombola Gold holds multiple mining and exploration tenements at Cloncurry, approximately 120km east of Mount Isa in the North West Mineral Province of Queensland. In 2022, Tombola Gold acquired the ‘Lorena’ processing plant, approx. 15km from Cloncurry, providing significant strategic processing capacity of 300ktpa.

Key Investment Highlights: 

• Gold resources located in Cloncurry, Queensland, with a total Resource base of 124koz @ 2.3g/t, comprising one ‘shovel ready’ resource (Mount Freda) and one near-production resource (Golden Mile);
• Mining leases and exploration permits covering c.447sqkm in the Cloncurry region;
• Existing Mineral Resource base providing a potential mine life of 2.5 years with significant resource growth opportunity via exploration;
• ‘Lorena’ Carbon in Leach (CIL) processing plant suitable for processing high grade gold ore, with permitted tailings storage facility and onsite infrastructure;
• established site facilities at ‘Mt Freda’ and support equipment for open cut mining, with part construction of an on-site VAT Leach and Carbon in Column (CIC) processing plant; and
• Approximately 38,000 tons of unprocessed ore on ROM pad.