Tanami Gold JV taps Macmahon for $38m Groundrush decline

Mount Gibson Iron Limited ( (AU:MGX) ) has issued an update.

Tanami Gold says the Central Tanami Project Joint Venture has selected Macmahon Underground Pty Ltd as preferred contractor to construct an underground exploration decline at the Groundrush Gold Deposit in the Northern Territory. The decline will support resource infill drilling and early advancement of underground workings, with about 3,500 metres of development, portal and vent establishment, and work valued at roughly $38 million over 14 months from the September 2026 quarter, subject to a binding agreement.

The project is expected to enable underground drilling towards the end of the construction period, helping to better define the Groundrush resource and potentially accelerate future mine development decisions. The appointment of a major contractor like Macmahon underscores ongoing progress at the Central Tanami Project, with implications for advancing the joint venture’s transition from exploration toward possible production.

More about Mount Gibson Iron Limited

Tanami Gold NL is an Australian gold exploration and development company focused on the Central Tanami region of the Northern Territory. The company holds a 50% interest in the Central Tanami Project Joint Venture alongside MGX Resources Limited, targeting the Groundrush Gold Deposit and surrounding gold prospects.

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