Red October

    Location

    Red October open cut is situated on the margins of Lake Carey approximately 120km North East of the Carosue Dam processing plant and 15km South of the Sunrise Dam operations.

    Geology

    The Red October deposit is situated within the Laverton Tectonic Zone. The majority of the gold mineralisation is hosted within a black shale unit on the contact between a pillow basalt footwall and an interlayered ultramafic and high magnesian basalt hanging wall.  The black shale has been deformed by a NNE-SSW trending shear zone, known as the Red October Shear Zone. It is characterised by strong sericite-silica alteration with local areas of intense brecciation. Mineralisation is also present within the hangingwall and footwall stratigraphy. This mineralisation is characterised by intense potassic alteration around small shear zones.

    Status

    Since underground development commenced in September 2011, Red October has been steadily building into a sustaining and focused underground operation.  With a camp capacity of 128 rooms, Red October is a smaller sized operation focused on the core values of Saracen; Accountability, Communication, Delivery and Choosing a great Attitude. FY14 proved to be a great year for the mine, with over 60,000 ounces mined averaging 6.4g/t. A business plan of delivering FY15 physical targets, increasing the resource base and investing in our people.

    The operation is currently in a phase of investment with both capital projects and drilling programs. Current drilling of both exploration and grade control programs is delivering the high grade results. While FY15 will also include underground power and pumping upgrades, and new surface infrastructure investments to support the operation into the future.