The Board of Directors of Laneway Resources Limited (“Laneway” or “the Company”) (ASX: LNY) is pleased to advise that an application to amend Environmental Authority EPML00899813 to permit processing of Agate Creek Ore at the Georgetown Processing Plant has been approved under section 240 of the Environmental Protection Act 1994.
With this amendment now approved and licenced as part of the Environmental Authority on the Georgetown Project, high grade oxide ore from the Agate Creek Project is now permitted to be treated through the Georgetown Processing Plant representing achievement of another significant milestone and providing Laneway with a clear path to the commencement of processing ore.
This approval follows the recent commencement of the first phase of the refurbishment of the Georgetown Gold Processing Plant in North Queensland with site works and electrical and mechanical refurbishment programs advancing well and on track to enable the commencement of processing ore by the end of July.
The next phase of drilling and blasting of ore at Agate Creek is expected to commence next week with earthmovers to mobilise soon after.
The restart of the Georgetown Gold Processing Plant will enable Laneway to take control over its gold production future, generate material free cashflow and begin building the platform for a regional gold processing centre.
Laneway entered into a Share Sale Agreement in February 2022 to purchase Masterson Minerals Pty Ltd, owner of the Georgetown gold processing plant and an extensive portfolio of mining and exploration tenements.
Laneway Managing Director, Brad Gordon noted: “We are pleased with the rapid progress being made towards the restart of the Georgetown plant which will enable us to take control of our processing and development future and provide a clear pathway for Laneway to execute on its significant growth pipeline.”
