Beaconsfield Gold - Australia's Richest Gold Resource.

High Grade, Low Cost Gold Producer

Beaconsfield Gold Mine



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THE BEACONSFIELD GOLD MINE

The Beaconsfield Mine is located 40 kilometres by road north-west of Launceston.

The orebody, named the Tasmania Reef, is a gold-bearing, quartz-carbonate-sulphide vein occupying a fault structure which transgresses a series of Ordovician sedimentary beds. The known endowment of the reef including historic and modern production as well as current reserves is now in excess of two million ounces of gold.

The Tasmania Reef has an average strike length of 350 - 400 metres, an average horizontal thickness of around 3.0 metres and dips south-east at an average of around 60 degrees.

The historic underground mine was operated from 1877 to 1914, during which time approximately 840,000 ounces of gold were produced from 1,070,000 tonnes of ore at an average mill recovered grade of 24.3 g/t gold. With a reported average mill recovery of around 85%, the average head grade of the ore, after mining dilution, would have been over 28 g/t gold, making Beaconsfield one of the richest gold mines in Australia at the time. The historic mine was worked to a maximum depth of 455 metres. Economic conditions and technical considerations, in particular the inefficient mine pumping methods available at that time, led to the cessation of mining at the outbreak of World War I in 1914 and the subsequent flooding of the shafts and workings.

The modern underground mine has focussed on the extension of the Tasmania Reef below 455 metres depth.

BEACONSFIELD MINE JOINT VENTURE (BMJV)

The participants in the unincorporated BMJV, which operates the Beaconsfield Mine, are the Allstate group with a 51.51% interest and the Beaconsfield Gold group with a 48.49% interest. Allstate is Manager of the BMJV, and all site personnel are employed by Allstate.

During 2007 Allstate became a 90% subsidiary of Beaconsfield Gold NL and a member of the Beaconsfield Gold group. The Joint Deed Administrators originally appointed to Allstate on 8 June 2001 retired on 27 February 2007 following creditors acceptance of a Beaconsfield Gold proposal.

Hart Shaft viewed from the winder room.

MODERN MINE

Reserve & Resource table as at 30 November 2007

Measured Resource 307,000t @ 17.8g/t Au (175,000 ounces contained gold)
Indicated Resource 503,000t @ 15.1g/t Au (244,000 ounces contained gold)
Inferred Resource 63,000t @ 12.2g/t Au (25,000 ounces contained gold)
Total Resource 873,000t @ 15.8g/t Au (446,000 ounces contained gold)


Proved Reserve 392,000t @ 12.0g/t Au (151,000 ounces contained gold)
Probable Reserve 703,000t @ 8.6g/t Au (194,000 ounces contained gold)
Total Reserve 1,095,000t @ 9.8g/t Au (346,000 ounces contained gold)

A diamond drilling program has been planned to test the area below the F21 Zone with the intention of replenishing reserves and potentially extending the Tasmania Reef by around 300 vertical metres. A drill drive is currently under development to provide an access for diamond drill rigs and drilling is planned to commence as soon as the drive is completed, expected to be towards the end of the 2008 financial year.

Jumbo drill underground.


A view of the 480 Central stope with backfilling, using a mixture of
cement slurry and development waste, in progress.
Note how wide the Tasmania Reef is in this section of the stope.
Photo courtesy of Gold Mining Journal.

A 32 tonne truck dumping into the shaft loading hopper
at the 375 metre level plat.
Photo courtesy of Gold Mining Journal.

Ore treatment plant. Photo courtesy of Gold Mining Journal.

The Hart Shaft discharge conveyor.
Boral trucks haul from here to the treatment plant.
General view of the top of the bacterial oxidation tanks
General view of the top of the bacterial oxidation tanks.

South side of the plant during commissioning,
viewed from the ROM (run of mine) pad.

750 kW Ball Mill in operation.

Bank of sulphide flotation cells.

Stamping bullion bar 001.

Large stainless steel bacterial oxidation tanks during construction.

The large workshop on the 375 metre level in the final stages
of construction with the supports for the overhead crane being installed.
Photo courtesy of Gold Mining Journal.

A general view of the bacterial oxidation and
cyanide leach sections of the plant during construction.


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