Linden Project (100% Interest)

The Linden Gold project lies at the southern end of the highly gold endowed Laverton Tectonic Zone, on the eastern margin of the Norseman – Wiluna belt. The Laverton Tectonic Zone hosts a number of world class gold deposits including Wallaby (7.1 Moz Au), Granny Smith (1.8 Moz Au), Sunrise Dam (7.0 Moz Au). The Linden Gold Project comprises the majority of the historic Linden Goldfield, which produced over 34,500 ounces of gold from a number of small high grade mines. Exterra’s initial focus has been on the Second Fortune Mine where a Pre-Feasibility study for the development of a high grade underground gold mine has been completed during 2014.


The study indicates that at present gold prices the operation would yield a positive cash flow of A$17.3 million over an initial mine life of 2.5 years, summarised in the following table 1.

Key Parameters from the Second Fortune Pre-Feasibility Study

Second Fortune Gold Project
Total Ore Mined204,000 T
Mined Head Grade 9.4 g/t Au
Metallurgical Recovery95%
Recovered Ounces Gold 56,600 oz
Mine Life2.5 years
Pre-Production Capital A$5 M
Operating Cash Cost (C1) $/oz A$$720
Total Cash Cost (C3) $/ozA$1,016
Gold Price Assumed $/ozA$1,400
LOM RevenueA$80 M
LOM EBIT cash surplus (incl royalties)A$17.3M
NPV (8%)A$13.4 M
Project Pay Back (at A$1,400/oz)14 months

The scope of the project is based on the existing total JORC Resource (2004) for the Project totalling 478,000 t @ 8.5 g/t for a total of 131,000 ounces of gold, located within four interpreted lodes (Main Lode, Hanging wall lode, Foot wall lode and West Lode). The mine development as per the PFS has focused on the Main Lode only, comprising a Main Lode 1.0m minimum mining width (JORC 2012) Resource of 207,000 t @ 10.2 g/t for 76,300 ounces of gold.

During the course of the indicated project life additional sources of ore from Hanging wall and Footwall lodes and depth extensions of the Main lode are likely to extend the project life. Additional resource discoveries on the adjoining Linden project area are also likely to add to the project life.


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Each section of the study includes appropriate reference documents to support the information in the section. A list of the primary consultants follows:

  • Geology resource estimation and QA/QC review : Ravensgate and Q G Consulting Pty Ltd
  • Open pit and underground mine design and Financial Modelling : Intermine Consultants Pty Ltd
  • Geotechnical : Minegeo Tech Pty Ltd
  • Groundwater and surface water: Rockwater Pty Ltd
  • Metallurgical Test work : ALS Metallurgy Pty Ltd
  • Evaporation Pond design: Coffey Pty Ltd
  • Environmental : MBS Environmental Pty Ltd
  • Geochemical and environmental : MBS Environmental Pty Ltd
  • Drilling and geological assay data collection : Exterra Staff

Exterra has received all Regulatory Approvals from the relevant Government Departments to enable the commencement of mining activities on the site.


The Linden project area contains a large number of historic mines and prospects which have not been subject to systematic exploration. (refer plan below)

Reverse Circulation drilling by Exterra and a review of the available project exploration data has highlighted the potential for further economic discoveries, with further exploration

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