First Gold Pour

BULLSEYE POURS FIRST GOLD FROM BUNGARRA MINE

8 September 2021:  The Board of Bullseye Mining Limited (‘Bullseye’ or ‘the Company’) is delighted to announce the momentous milestone of pouring Bullseye’s maiden Gold Bar from the Bungarra Gold Mine, located within the Company’s flagship North Laverton Gold Project.

The maiden doré Gold Bar was stamped ‘BUN 001’ (representing the first Gold bar from Bungarra!) and weighed in at an impressive 20.941 kilograms or 673 ounces (unrefined).  The maiden doré Gold Bar and further doré Gold from Bungarra will be transported to the Perth Mint for sale and refining.

Several more Gold pours are scheduled over the coming week at the Wiluna Gold Processing Centre, which will then complete the first toll processing campaign from the Bungarra Gold Mine.

Stage 2 mining is continuing at the Bungarra Gold Mine, with further haulage of ore to the Wiluna Gold Processing Centre ongoing and a second Gold campaign is programmed to be processed in November 2021.  Progressive further Bungarra processing campaigns are planned for 2022.  

From Left to Right: Peter G Burns (Executive Director), Dariena Mullan (Executive Director), Peter J Burns (Non-Executive Chairman), Anthony Short (Non-Executive Director)

Commenting on Bullseye’s Maiden Gold Pour, Bullseye Non-Executive Chairman, Peter J Burns said:

“Today is a very proud and special day for all involved in the development and evolution of Bullseye - and marks the day we join the illustrious ranks as Australia’s newest Gold Producer.  The achievement of this incredible milestone should not be underestimated and is the culmination of the undying efforts of a small but highly dedicated and extremely hard-working team.

 I would like to take this opportunity to thank my fellow Directors, especially our Executive Directors, Ms Dariena Mullan and Mr Peter G Burns, as well as our small management team and dedicated contractors, that made the accomplishment of this landmark moment possible for Bullseye.”

 Mr Burns added, “On behalf of the Board of Bullseye, I wish to extend our thanks to the Owner and Managing Director of Blue Cap Mining, Mr Ashley Fraser and the whole Blue Cap team, for their unwavering commitment and effort to ensuring the success of the Bungarra Project.  We would also like to thank Wiluna Mining Corporation and their highly competent team at the Wiluna Gold Processing Centre, for very quickly getting a strong handle on our Bungarra ore and processing this current first campaign so efficiently.   

 Mr Burns concluded, “Lastly and most importantly, on behalf of the Board, I wish to thank our very loyal and patient shareholders for your incredible ongoing support, as we look forward to delivering on the next exciting chapter of Bullseye’s development.” 

From Left to Right: Peter Henderson (Consultant Metallurgist), Tim Cribb (Bullseye/Blue Cap Consultant Mining Engineer & Metallurgist), Ian Ladyman (Bullseye Non-Executive Director) on-site at the Wiluna Gold Processing Centre

Processing of the ore from the Bungarra Gold mine at the Wiluna Gold Processing Centre was overseen by Bullseye’s new Non-Executive Director, Mr Ian Ladyman, along with Bullseye/Blue Cap’s consultant Mining Engineer and Metallurgist, Mr Tim Cribb, as well as consultant Metallurgist, Mr Peter Henderson. 

The Bullseye/Blue Cap processing team, along with the Wiluna process plant operators, are to be commended for their quick grasp and understanding of the Bungarra ore, achieving exceptional daily Gold recoveries, averaging 92.4% and up to 96% (at the time of writing this update).  This is an exceptional effort, given this was the very first campaign of new Bungarra ore.

Bullseye’s Non-Executive Director, Ian Ladyman, reviewing real-time Processing data with Peter Henderson at the Wiluna Gold Processing Centre

Progress of the Bungarra Open Pit Gold Mine at September 2021

Given the success to date of the Bungarra Project, the Bullseye/Blue Cap joint venture is now actively assessing further stages of mining at the Bungarra Gold Mine beyond Stage 2, as well as assessing potential areas of further production at the North Laverton Gold Project.  The Board will keep shareholders informed of relevant updates in due course.