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Last Updated: 30/07/2013

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June 2013 Quarterly Report
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Completion of Victorian Assets Sale
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Lorena Gold Mine to Proceed
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March 2013 Quarterly Report

Welcome to BCD Resources NL

BCD Resources NL is an Australian listed metals producer and has a processing facility situated at Beaconsfield in Tasmania. The Company is focused on the development and evaluation of the economics of treating gold deposits and investigating longer term utilisation of the Beaconsfield processing facility, including processing of ore from future projects.

BCD Resources NL future projects


The Stormont deposit is a skarn-style gold-silver-bismuth deposit located in northern Tasmania, 40km south of Devonport and 130km by road to Beaconsfield.  It is a shallow, keel-shaped deposit, with mineralisation commencing at surface and extending to around 40m depth.  A small open cut mine was operated historically for bismuth, but the majority of the deposit is undeveloped.  It lies on exploration licence EL42/2010 and is held by Torque Mining Ltd (90%) and Frontier Resources Ltd (10%). 
Previous metallurgical testwork indicates that the gold is free-milling and that high recoveries should be achieved from Carbon-In-Leach (CIL) processing.  A 50/50 Joint Venture has been formed which allows for the completion of a feasibility study, with BCD as the manager and operator, and for BCD to then develop and process Stormont ore.


BCD Resources NL (BCD) and Malachite Resources Ltd (MAR) have entered into formal joint venture agreements (Joint Venture) for the development of the Lorena Gold Mine (Lorena).
The Lorena Gold Project is wholly owned by Malachite and is located about 15km east of Cloncurry in northwest Queensland.   Malachite and BCD propose to establish an unincorporated joint venture to develop and operate the project and to transport the concentrate produced at Lorena to BCD’s processing facility situated at Beaconsfield in Tasmania for final treatment and production of gold doré.
BCD will be the manager of the Joint Venture and be responsible for all development, operating and management functions.  The Joint Venture will operate on the existing granted mining leases at Lorena (MLs 7147 and 90192 – 96) and will apply to all open cut and underground resources within the mining lease area.
BCD is required to solely fund the development of the project to the point of commercial production, including construction and commissioning of a flotation facility, capable of efficiently processing a minimum of 120,000 tonnes of ore per annum, and related infrastructure. 
Initially the net proceeds will be shared 50/50, but once production exceeds 80,000 ounces of saleable gold equivalent, Malachite’s share of proceeds will increase to 65% and after 120,000 ounces of saleable gold equivalent have been produced from Lorena, Malachite and BCD will share the product 75% MAR and 25% BCD.

Middle Arm Tailings

The Tasmania Mine at Beaconsfield operated in two phases, with early operations from 1877 to 1914 and modern operations from 1999 to 2012. The tailings from the early phase of operations are the focus of this project.  The battery and associated plant infrastructure (the “reduction works”) were located approximately one mile from the main (Hart) shaft, on the banks of Middle Arm Creek. Tailings from the reduction works were discharged into the creek, and this material was then carried into Middle Arm. Records indicate approximately 1.04M tonnes of ore was treated at the reduction works with approximately 855,000 ounces of gold produced at a recovered grade of 25.6g/t. These activities resulted in the deposition of approximately 1.04M tonnes of tailings into Middle Arm.
Between 1985 and 1988, a company called Golconda Resources re-treated 541,000 tonnes of tailings from Middle Arm and produced 20,448 ounces of gold at a recovered grade of 1.18g/t using a cyanide leaching process. A simple mass balance suggests that a minimum of 500,000 tonnes of tailings should remain in Middle Arm. BCD Resources applied for, and was granted, an exploration licence (EL6/2012) over Middle Arm in order to assess this potential. 84 vibracores were collected on a nominal 200m x 100m grid in Middle Arm in August and September 2012.  Initial studies indicate a potentially economic mining zone containing approximately 311,000 tonnes at an in situ gold grade of 2.0 grams per tonne for 19,700 ounces of gold.