The drive operations is planned to retrieve production samples from historic workings for assaying and to finalize indicative arrangements with local mills.
Commenting on the developments, Black Mountain executive chairman Peter Landau stated that the underground development operations are on lines with company’s plan to commence production from its Bonanza zone.
"The Bonanza Drive will provide us with access to further zones of mineralisation within the historically mined areas of the project which will be extracted in line with our production target of up to 250 tonnes of ore per day, any margins from are intended to be utilised to help fund our exciting exploration campaigns planned at both New Departure and Conjecture in the coming months," added Landau.
Also, the company is looking to soon begin the main drive from the Bonanza drive to access the Main zone and also it is intending to construct a new portal higher up the mountainside to reach Quien Sabe zone.
The revised development plan with shorter horizontal drive and the shorter distance to haul ore and for waste disposal would help in accessing the Quien Sabe zone sooner than if it was through Laczay Adit, the company added.
Black Mountain, meanwhile, is in the final stages of securing debt-offtake finance.
