Scotgold Resources Ltd has outlined priorities identified from its continuing review of the revised mining plan and schedule for the Cononish gold-silver mine near Tyndrum.
TOP-DOWN LHS
The company, which still needs to pay debt interest, said that the mine plan and schedule until July 2025 focuses on transitioning to top-down long hole open stope mining (LHS).
LHS is initially “heavily development intensive”, with the bulk of development scheduled over the next six to nine months.
Priorities include reaching levels beyond the 445 level (replacing the lost ore from the 430L) and accessing new top-down LHS areas above 445L.
The transition from LHS with waste fill to fully top-down LHS method without fill would deliver “key efficiencies and cost reductions”.
Scotgold would additionally improve mine ventilation by developing the return airway and also upgrade key power and ventilation.
The company said it needed a “significant” amount of money to deliver the plan, repeating that discussions were an advanced stage for additional funds without which it might not be able to continue.
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