Metal Bank (ASX: MBK) has announced plans to fast-track gold production at its Livingstone Gold Project in Western Australia. Metal Bank is focused on advancing resource projects in the minerals sector and is dedicated to creating value for its shareholders through innovative exploration and development strategies. The company is prioritising the development of shallow resources at the Homestead and Kingsley deposits, which are within trucking distance of existing gold mining and processing centres.
Following a 75% increase in the Livingstone global gold resource reported in March, to 2.81Mt at 1.36g/t Au for 122.5koz Au, MBK is focused on unlocking value from this project by assessing the development potential of the Kingsley and Homestead deposits. The company aims to expedite the mining of existing Mineral Resources and leverage nearby third-party infrastructure for processing. In parallel with the existing Mineral Resource Estimate development, MBK will also complete further drilling to expand existing resources and upgrade existing Exploration Targets.
In addition to the Livingstone project, Metal Bank continues to advance its copper and critical minerals exploration strategy in Saudi Arabia. The company is actively considering local funding options to support the next phase of exploration work on the Wadi al Junah Copper-Zinc-Gold-Silver Project. This project covers 427km in the Asir province and has already seen three work programs conducted by MBK, including regional stream sediment sampling and magnetic anomaly mapping.
Executive Chair Ines Scotland commented that Metal Bank has multiple catalysts to unlock value for shareholders through near term production at Livingstone and further exploration. The company remains committed to realising value from the Wadi Al Junah project in Saudi Arabia and is advancing discussions for local financing options. The company will provide a fuller update once Livingstone plans are finalised.
