Laneway Resources (ASX:LNY) is an emerging Australian resource development and mining company with projects primarily targeting gold in Queensland and New Zealand, plus a coking coal resource project in Northern New South Wales.
Laneway was granted Mining Lease 100030 on the 1st March 2019 over its 100% owned near surface high grade Agate Creek Gold Project in North Queensland. The Agate Creek long term plan is a low strip ratio open cut mining operation with on-site processing. This is being progressed with further exploration on the Sherwood prospects and also regionally. Agate Creek has an existing JORC Resource of >380,000oz of contained gold. Laneway holds over 648km2 of exploration tenements around the Agate Creek MLA. Initial production of Stage 1 was completed utilising a third-party processing plant, owned by Maroon Gold, to deliver gold production at a significantly reduced capital cost and reducing the time to first gold production. The Company is currently investigating the potential to extend and cut back the current small open pit for further toll treatment production early in 2020.
In New Zealand Laneway owns 100% of an Epithermal Gold Project. This project encompasses a large (over 58km2) highly prospective land holding adjacent to Oceana Gold’s Martha Mine (Waihi) and New Talisman's Karangahake Project. Laneway is actively exploring these tenements with over $NZD6 million spent on-ground over the past 5 years.
The Company also holds 100% of the Ashford Coking Coal project in NSW which contains an estimated JORC resource of 14.8Mt of metallurgical coking coal, which it is currently progressing towards lodgement of a Mining Lease Application.
The company has a strong Board and Management team with a record of developing junior resource companies.
Laneway’s primary focus is on the further progression of its gold projects, initially establishing cash flow from Agate Creek to establish a robust financial footing to continue the progression of all its assets.
Laneway is also actively reviewing additional potential high growth projects and as appropriate farm-out or JV of existing assets.