TM Gold has been approved by the Northern Territory Government to commence operations at the Spring Hill Mine.
Located approximately 30 kilometres north of Pine Creek, the site is set to initially produce approximately 102,000 ounces of gold over a 13 month period.
Works at the site to date include historical shaft mining and exploration drilling under various operators between 1992 and 2017.
The Spring Hill Mine Project approval is now the sixth significant mine approved in the last 2 years, with the other approvals being:
· Core Lithium, Finniss Project;
· Nathan River Resources, Nathan River Project;
· McArthur River Mine ,Overburden Management Project;
· KGL Resources, Jervois Project; and
· Vista Gold, Mount Todd Mine Project.
TM Gold's Mining Management Plan (MMP) meets the requirements of the Mining Management Act 2001, the Environment Protection and Biodiversity Conservation Act 1999 and is consistent with all environmental requirements from the NT Environmental Protection Authority.
Authorised works in the approved MMP require that a security amount of $1,470,497 is held by the Northern Territory Government.
The approved MMP will be publically available on the NT Government website here
Quotes from the Minister for Mining and Industry, Nicole Manison
"The Territory Government is working hard to make the Territory the best place for exploration and mining investment in Australia.
"The Spring Hill Mine will support over 30 local jobs with mining scheduled to commence later this year."
"Our resources industry is one of the biggest contributors to the NT economy and Spring Hill Mine is now the sixth significant mine approved in the last 2 years."
"We are serious about supporting the resources sector, and this approval delivers a clear signal to potential investors that we're open for business and working hard to protect the environment through appropriate regulation."
Quotes from TM Gold, Mr Ashley Pattison, major shareholder and Executive Chair of PC Gold, a subsidiary of TM Gold
"PC Gold is very appreciative of the support provided by the Northern Territory Department of Industry, Tourism and Trade in getting the MMP for the Spring Hill gold mine finalised.
"The Spring Hill deposit is located within one of the largest mining leases in the Northern Territory and Stage 1 of the project is seen as a very important stepping stone to a much longer mine life."
