FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Tombola prepares for golden harvest

29 November 2021 09:38
ASX: TBA

Production mining is around the corner at the Mt Freda complex near Cloncurry in mineral-rich northeast Queensland. Tombola eagerly awaits approval for vat construction while continuing its notable exploration in the region.  

Diligent investigations undertaken by the explorer on its assets are now bearing fruit with an eye focused on production mining its bevy of promising sites in the first quarter of the new year.  

While the focus remains on its Mt Freda and Golden Mile projects, results from its newly granted exploration permits for a mineral site nearby brought in fresh, intriguing results of up to 3.1 per cent cobalt, 8.52pc per tonne of gold and 11.2pc copper.  

Although well-seasoned on geological finds, the company couldn’t help but take in the beauty of the site’s mineralisation.  

“The Tombola geological team exploring the new area for historical copper and cobalt mines were amazed at the pink cobalt oozing from the rocks surrounding the historical cobalt workings,” managing director Aaron Day said.  

Nearly completed rehabilitation works at the complex consist of its gold process plant ponds and the two major 40,000-tonne vats incorporating three processing ponds and two leach vats, with additional restoration underway before construction of several sediments and catchments ponds within the complex.  

Additional mineral samples have been taken from in and around other historical workings as Tombola await assay results. 

TBA’s Australian Stock Exchange-listed price is currently trading at 3.2c (8:31 am UTC+8) 

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This