en.Wedoany.com Reported - China Hanking Gold (03788.HK) announced on June 22, 2026, that its wholly-owned subsidiary, Cygnet Gold Pty Ltd, has obtained approval from the Western Australian Government's Department of Mines, Industry Regulation and Safety for the Copperhead and Golden Pig mining development and closure plans. This approval marks a significant milestone in the process of restarting underground gold mining activities at the Cygnet Gold Mine project.
The approved items include mining of the Copperhead old goaf, access to the Copperhead underground mine via a new decline constructed in the existing Copperhead open pit, the Copperhead underground mine, ore stockpile areas, supporting mining activities, and construction of the Copperhead evaporation pond on Tailings Storage Facility Zone 5 in accordance with relevant engineering approval requirements. Activities planned for the Golden Pig underground mining operations have also been approved, subject to obtaining licenses L77/367 and L77/368, for which applications are already in progress.
Following the mining approval, the company has immediately initiated preparatory work for Copperhead underground mining development, namely the tendering process for underground mining works, while also commencing underground drilling to expand resources and ore reserves. Qiu Yumin, Executive Director, Chief Executive Officer and President of the company, stated that obtaining the underground mining approval marks a critical step for the Cygnet Gold Mine project in transitioning from the feasibility study and approval stage to the development stage. Both Copperhead and Golden Pig are high-grade underground mineral resources, with mining history risks already mitigated, complete supporting facilities, and significant potential for further growth in resources and reserves.
Hanking Gold is a listed company focused on gold mining development. The company's current priority is to transform the Mt Bundy Gold Mine project into a low-cost gold production mine. Initiating the tender for Copperhead underground mine development works and subsequent construction is part of the company's overall strategy, aimed at successively establishing the Mt Bundy Gold Mine project and the Cygnet Gold Mine project as producing mines.
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