Great Central on track Down Under

Quarterly production from Great Central Mines (GTCMY-Q) shows that the company is progressing toward its goal of cranking out more than 500,000 oz.

gold for the year.

During the July-to-September quarter, the company produced 132,385 oz. from the Bronzewing and Jundee mines in the Yandal gold belt of Western Australia.

The average cash operating cost there was US$199 per oz. Production for the next quarter is forecast at 130,000 oz. at a slightly higher cost of US$210 per oz.

The company says it can produce 550,000 oz. during its fiscal year, which ends June 30, 1997, at an average cash operating cost of US$198 per oz.

Great Central’s exploration endeavors are highlighted by deep drilling at the Jundee mine, which resulted in the discovery of high-grade mineralization at the Barton Deep zone. Drilling there encountered several zones of high-grade mineralization below a depth of 300 metres, including 13.1 metres grading 38.4 grams gold per tonne, 6.4 metres grading 43.5 grams, and 4 metres of 58.9 grams.

Five rigs are drill-testing for extensions of the Barton Deep mineralization, while two other rigs are working elsewhere on the Jundee property.

At the other end of the Yandal belt, exploration around the Bronzewing mine has turned up encouraging values, including: 10 metres grading 52.8 grams beneath the Discovery pit; 78 metres of 11 grams from a hole near Shoot 39; and 47.9 metres of 7.5 grams from the Mt. Joel project.

Eight rigs continue to drill at Bronzewing and elsewhere in the Yandal belt.

Meanwhile, Great Central’s sister company, Centaur Mining & Exploration (CEMGY-O), has increased the size of its recent gold discovery at the Mt.

Pleasant property, northwest of Kalgoorlie. The Quarters deposit contains 8.2 million tonnes grading 3.1 grams, equivalent to 810,000 oz. gold.

Reverse-circulation drilling is expected to add substantially to the known resource at Mt. Pleasant, and Centaur hopes to begin open-pit mining in December.