The Blayney – Kings Plains district has been the subject of alluvial and hard rock mining in the mid to late 19th century and sporadic exploration for gold and base metals over various exploration licences since the 1960s. Nine different exploration licence holders have explored the area since that time, leading up to the discovery of the McPhillamys deposit.
More recently, between 2006 and 2009, exploration targeting gold mineralisation at McPhillamys on EL5760 was undertaken by LFB Resources NL, which at that time was a joint venture between Newmont Exploration Pty Ltd and Alkane Resources Ltd, referred to as the Newmont Alkane JV.
Having identified the McPhillamys deposit within the “Ingledoon” property, a program of diamond core drilling was undertaken in 2010 by the Newmont Alkane JV to further define the known mineralisation and metallurgical characterisation of the deposit. At the completion of this exploration program, a potentially economic resource was confirmed subject to further feasibility assessment. In November 2012, Regis Resources Limited (Regis) acquired LFB Resources NL from the Newmont Alkane JV. Regis then completed an infill resource drilling program in the first half of 2013 to confirm the earlier exploration results and to increase the confidence level of the resource model. A resource estimate was prepared in July 2014. In mid-2016, Regis commenced a further round of drilling to refine the resource estimate and to obtain additional information required to complete a Pre-feasibility Study. That study has culminated in an updated mineral resource estimate and maiden ore reserve estimate released in September 2017.
Regis’ Board anticipates making a final development decision for McPhillamys following the receipt of all required approvals.
The key aspects of the project are summarised below.
NSW Head Office
57 Adelaide Street
Blayney NSW 2799
(02) 6368 4100