Mining Lease Grant Paves Way but Heritage Survey Could Delay Edjudina Start

Mining Lease Grant Marks Major Milestone

Gibb River Diamonds Limited (ASX: GIB) has taken a significant step forward in its development of the Edjudina Gold Project in Western Australia with the granting of mining lease M31/495. This lease covers the Neta Prospect, the core of the project's maiden JORC resource, and is pivotal for the company’s plans to commence mining activities.

The Neta Prospect resource comprises an Indicated and Inferred mineral resource of 378,000 tonnes at 1.9 grams per tonne gold, equating to approximately 24,000 ounces of gold. Within this, an Indicated Resource of 110,000 tonnes at 2.2 grams per tonne gold accounts for 8,000 ounces, underscoring the quality and potential economic viability of the deposit.

Strategic Focus on Monetisation and Mining Proposal

With the mining lease now secured, Gibb River Diamonds is prioritising the preparation and submission of a Mining Proposal to the Western Australian Mines Department. This proposal will enable the company to conduct mine and haul operations at Neta, with plans to toll treat the ore at a third-party milling facility. The company is actively engaged in discussions with a private Western Australian group specialising in mine haulage and toll milling, aiming to finalise commercial arrangements that will facilitate efficient processing.

Importantly, GIB has also submitted Aboriginal heritage survey documentation to the WTAC Native Title group and is seeking to expedite the heritage survey process. This step is critical to ensure compliance with native title and heritage obligations, reflecting the company’s commitment to responsible and sustainable mining practices.

Edjudina Gold Project’s Strategic Location and Infrastructure

The Edjudina Gold Project is strategically located approximately 145 kilometres northeast of Kalgoorlie, in the heart of Western Australia’s Eastern Goldfields. The project area hosts multiple historic gold workings along a 13-kilometre strike, with high-grade veins historically mined. Notably, a haul road owned by Northern Star Resources runs through the northern section of the project, providing direct access to the Carosue Dam milling complex 45 kilometres to the south, which could be leveraged for toll milling arrangements.

This infrastructure advantage, combined with the granted mining lease, positions Gibb River Diamonds well to advance from resource definition to production, potentially unlocking value for shareholders in the near term.

Looking Ahead: From Resource to Revenue

The granting of mining lease M31/495 is a critical enabler for GIB’s ambitions at Edjudina. While the company has yet to specify a definitive timeline for mining commencement, the focus on completing the Mining Proposal and securing toll milling contracts signals a clear pathway towards monetisation. Investors will be watching closely for updates on heritage surveys, mining approvals, and commercial partnerships that will ultimately determine the pace and scale of operations.