Redcastle Resources (ASX:RC1) has started concurrent mining operations at its Redcastle Reef and Queen Alexandra gold resources in Western Australia’s Eastern Goldfields.
Mining is proceeding at Redcastle Reef, with ore material being mined and stockpiled on-site as part of the planned open pit mining sequence. Work on the neighboring Queen Alexandra deposit has already begun, with surface removal completed and mining starting.
The Queen Alexandra and Redcastle Reef deposits are approximately 700m apart, allowing for shared use of infrastructure, equipment, and site-based activities.
The Redcastle-BML Ventures joint venture, which is operated by BML Ventures, provides mining services. BML is in charge of funding 100% of the joint venture’s mining and working capital requirements until the first profits are generated.
To present, mining efforts at Redcastle Reef have concentrated on the near-surface oxide mining phase, which falls within the allowed activity envelope. Initial ore hauling is planned to begin soon, followed by the Wiluna processing facility’s first toll milling.
The joint venture mining operations are projected to produce cash flow in the following months.
The Redcastle Project region contains the company’s present mineral resources, including the Redcastle Reef and Queen Alexandra deposits. Morgan’s Castle East, Sligo, Coronation, South Queen, and Battery Lode are among the nearby opportunities that the business intends to explore further.
The company also has an earn-in agreement for the Kilkenny Belt, which allows it to earn up to a 60% stake in the project.
Redcastle plans to conduct near-mine exploration throughout the project area. Exploration drilling in the TBone Belt is slated for H2 2026, with field activities in the Kilkenny Belt preceding a drilling program in H1 2027.
