Macmahon Holdings will build a A$38 million exploration decline at the Groundrush gold project in the Northern Territory’s Tanami desert after confirming a contract with 50:50 joint owners MGX Resources and Tanami Gold.
Macmahon was announced back in April as preferred underground mining contractor.
The planned 3.5km decline will initially extend to a depth of 350m to give the joint venture access to drilling platforms for about 33,000m of infill resource drilling.
It is expected to take about 14 months to complete.
“The commencement of development of the underground decline at Groundrush is an important milestone for this strategically important gold project, which has compelling long-term exploration growth potential from multiple gold targets on the tenement package,” Macmahon CEO Michael Finnegan said.
