Buka Gold was admitted to ASX in October 2005. Click here for a copy of the Prospectus

Buka Gold, through its fully owned subsidiary Gympie Eldorado Mining Pty Limited (GEM), holds over 760 square kilometres of tenements, which cover the entire historical Gympie goldfield in south east Queensland and prospective regional areas.

Gympie is an operating mine with full infrastructure and services capable of rapid production scale up. Gold is mined at GEM’s Monkland Mine using traditional underground mining methods. Mined ore is processed in a modern carbon-in-leach process plant to recover gold in the form of doré. The current operations provide a basis for quickly bringing to account any future exploration success with many of the most advanced exploration prospects able to be accessed using existing mine infrastructure.

N.B MLA 50188 has now been granted. The area marked MLA 50188 refers to ML 50188.

Gympie – A Historical Perspective

The Gympie goldfield was discovered in 1867 by prospector James Nash. After its discovery, production increased every year until it peaked in 1903 at 146,000 ounces and now totals approximately four million ounces, making it one of Australia’s most prolific goldfields.

During the 60 years from discovery to 1927, recorded hard-rock production totaled 4.5 million tonnes of ore at an average recovered grade of over 29 g/t (3.5 million ounces produced).

Mining on the field ceased in 1927 due to diminishing returns and rising costs as mining chased the veins deeper at a time of high cost inflation and a pegged gold price.

Other than the re-treatment of old mine tailings, the field lay effectively dormant from 1927 until the mid 1970’s with over 200 small lease holdings across the field making it unattractive to invest significant exploration funds.

The production of 3.5 million ounces before the resurgence of the Australian gold industry ranks the Gympie goldfield as Australia’s sixth largest producing region.