Tolu Minerals is implementing a substantial exploration program at its Tolukuma gold mine, aiming to accelerate progress towards future operations.
The March 2025 quarter brought with it some substantial highlights for Tolu, including the completion of the first six holes of the mine surface drill program and the commencement of a significant surface mapping program toward the south of the mining lease.
The camp and site refurbishment is also nearing completion, and the primary fleet has been delivered into PNG.
Tolu is recommencing gold and silver production through the modular gravity production circuit, which is currently undergoing commissioning. The first gold has also been produced, marking a significant milestone.
There was also a leadership change during the quarter, with Chris Muller appointed as executive group geologist. With over two decades of experience in PNG, Muller has previously defined combined mineral resources of approximately 18 million ounces of gold equivalent at K92 Mining.
Tolu is well on its way to initial production from Tolukuma, targeting a production rate of 2000 ounces of gold per month by the end of the year.
“The commencement of final hot commissioning of the modular gravity gold plant is a major milestone in the development of Tolu and the return of [the] Tolukuma mine to high-grade gold and silver production with commencement of revenue generation,” Tolu managing director and chief executive officer Iain Macpherson said in March.
“Industry-leading geotube technology is being deployed to temporarily store tailings to facilitate efficient and safe decanting of water and provide insight into the use of the technology as a potential long-term aide to tailings storage.”
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