Galane Gold Receives Mining Licence for Jim's Luck Project

Galane Gold (TSXV:GG) has received a mining license for its Jim’s Luck project in Botswana. Jim’s Luck holds a measured and indicated mineral resource of 93,004 ounces of gold and an inferred mineral resource of 46,424 ounces.
As quoted in the press release:

The Jim’s Luck project is located 25 km to the west of the Mupane plant and is connected by existing gravel roads. Gold mineralisation occurs in banded iron formation (“BIF”) rocks hosted by other meta-sedimentary and meta-volcanic rocks. The mineralisation is from surface, with the BIFs forming a positive topographic feature.
Mining is currently planned to commence in 2018 and is expected to be completed by the end of 2019. The mining method is to be confirmed as the Company is currently re-evaluating whether to mine as an open pit or an underground mine. It is also the current intention to commence new exploration at Jim’s Luck when mining commences as the resource was calculated on 830 metres of the ore body and exploration work to test the limits has indicated that there could be up to a further 10km of strike.

Galane Gold president and CEO, Nick Brodie, said:

There are several key objectives that must be met to ensure that Galane can implement its current rolling five year plan. One of these steps was obtaining the mining licence for Jim’s Luck and in doing so it confirms our management team’s ability to deliver. The key objective in our plan is the commencement of commercial production at the Tau underground and it is still envisaged that this will happen in August this year.

Click here to read the full Galane Gold (TSXV:GG) press release.
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