Central Tanami Project JV signs $38 million gold decline contract

The Central Tanami Project Joint Venture (CTPJV), a 50/50 partnership between Tanami Gold and MGX Resources, has awarded a $38 million contract to Macmahon Underground for the construction of an underground decline at the Groundrush Gold Deposit in Australia’s Northern Territory.

The project involves constructing a 3.5km decline to a depth of 350m over a 14-month period. This infrastructure will provide drilling platforms for approximately 33,000m of resource definition drilling, aiming to convert over 400,000 ounces of inferred resources into the indicated category to support mine design.

Surface works are currently underway, with in-pit portal construction scheduled to begin in September. The CTPJV aims to reach a development decision for the project by 2027. The total mineral resource estimate for the Central Tanami Project is 31 million tonnes at 2.8 grams per tonne of gold, totaling 2.8 million ounces, with the Groundrush deposit accounting for 1.2 million ounces of that total.