FAQ - Bullseye

    Who are Bullseye?

  • 1. Who are Bullseye?

    Bullseye Mining Limited is a successful Gold exploration and soon to be Gold production company with over 1,200km2 of gold-rich Greenstone terrain located in the World Class gold fields of Western Australia.

    Bullseye Mining has been granted mining licences and approvals from the West Australian Department of Mines Industry Regulation and Safety (DMIRS) to commence mining its flagship North Laverton Gold Project, located in the World-Class ‘Golden Triangle’, an area which has produced over 100 million ounces of gold, worth over AUD$200 Billion (at recent gold prices). Troy has agreed to pre-purchase gold from Bullseye at a discount and our aim is to pass this discount on to our customers when they use TROY Gold tokens to purchase TROY gold products.

  • 2. Where can I find more information on Bullseye?

    Bullseye is a public unlisted Australian company, based in Perth, Western Australia.

    Their corporate web site and contact information is available at www.bullseyemining.com.au. Bullseye’s authorisation to mine states that Bullseye’s North Laverton Mining Licence Number is M37/1309 and Bullseye’s North Laverton Mining Approval Grant Identification Number is 59888, both issued to Bullseye Mining Limited by the West Australian Department of Mines Industry Regulation and Safety (DMIRS) in 2017.

  • Are they regulated?

  • 3. Is Bullseye regulated?

    Bullseye Mining Limited was incorporated as a public unlisted company in 2006 in Perth, Western Australia. As a public company, owned by shareholders, Bullseye is regulated by the Australian Securities and Investments Commission (ASIC). Bullseye has successfully undergone all the necessary legal requirements for gold mining, including Mining Licensing, Mining Proposals/Approvals and Mine Closure plans as required under the West Australian Department of Mines Industry Regulation and Safety (DMIRS). Prior to DMIRS granting these Mining Licences and Approvals to Bullseye, DMIRS had to first be satisfied that Bullseye’s proposed mining activities are in compliance with the following Australian legislation:

    · Aboriginal Heritage Act 1972
    · Commonwealth Aboriginal and Torres Strait Islander Heritage Protection Act 1984;
    · Contaminated Sites Act 2003
    · Environmental Protection Act 1986 (and Administrative Procedures 1993)
    · Environment Protection Biodiversity Conservation Act 1999
    · Dangerous Goods Safety Act 2004
    · Health Act 1911
    · Heritage of Western Australia Act 1990
    · Land Administration Act 1997 · Local Government Act 1995
    · Local Government (Miscellaneous Provisions) Act 1960
    · Mining Act 1978
    · Mine Safety and Inspection Act and Regulations 1994/95
    · Rights in Water and Irrigation Act 1914
    · Soil and Land Conservation Act 1945
    · Town Planning and Development Act 1928
    · Wildlife Conservation Act 1950

    The West Australian Department of Mines Industry Regulation and Safety (DMIRS) subsequently granted to Bullseye their North Laverton Mining Licence (M37/1309) and Bullseye’s North Laverton Mining Approval Grant (Identification Number 59888) in 2017.

    Bullseye’s flagship North Laverton Gold Project (NLGP) is located on the 36km2 Granted Mining Licence (M37/1309), including additional mining licences (M37/108, M37/519 and M37/1167) which are located centrally on Bullseye’s 800km2 Dingo Range Greenstone Belt tenure.

    Bullseye’s Current Gold Resources in the NLGP:
    The current gold Resources of the NLGP are classified in accordance with the Joint Ore Reserves Committee Australia (JORC) Code 2012 and are approved for public reporting.

    The total Gold Resource for the Boundary gold deposit is 2.7Mt @ 2.37g/t Au for 212,000oz (JORC 2012).

    The total Gold Resource for the Bungarra gold deposit is 545kt @ 3.26g/t Au for 57,600oz (JORC 2012).

    The total Gold Resource for the Stirling gold deposit is 88kt @ 2.25g/t Au for 6,400oz (JORC 2012).

    Information relating to their flagship North Laverton Gold Project can be found at www.BullseyeMining.com.au

  • 4. What is JORC?

    JORC is the Australasian Code for the public Reporting of Exploration Results, Mineral Resources and Ore Reserves. JORC is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.

  • 5. What does a mining license prove?

    The Australian government will only issue a mining license on grounds which have conducted extensive research and surveying of the grounds and prove to be legitimate. Also see (Question 4) above.

  • 6. Will the mining cause harm to the local environment?

    Before licensing was granted, Bullseye had to undergo 18 months of environmental baseline testing including flora, fauna, surface hydrology, underground hydrogeology, Aboriginal Heritage, and Native Title, geotechnical studies, metallurgical studies including waste rock characterisation, mine planning, and scheduling and rehabilitation.

    Bullseye is fully compliant with the strict and World Leading all environmental laws and regulations in Australia and have taken great effort to protect and maintain the environment of the Australian Outback. Also see (question 4) above.

  • 7. Does Bullseye take their ethical responsibilities seriously?

    Yes, Bullseye had to undergo many regulatory checks in order for the company to be granted their mining Licences and Approvals. They are an equal opportunity employer and one of their core business principles is to only work with firms with a proven track record of ethical responsibility and environmental compliance. The NLGP will be developed with a partnership between Bullseye Mining Ltd, Como Engineers and Resource Development Group RDG, all of whom are well recognised, stand out companies in Western Australia with successful performance track records.

  • 8. Who are Como Engineers?

    Como Engineers are an award winning gold processing plant specialist consulting group. Como are well respected within the Australian mining industry with over 30 years of knowledge and experience in pre-feasability, bankable and definitive feasibility studies, including the complete design for gold process plant & infrastructure. Como Engineers philosophy of “fit for purpose” means Como can provide practical cost effective solutions to the NLGP timing, budget and market needs and Como will work closely with Bullseye right through to NLGP Construction Management and Supervision.

  • 9. Who are RDG?

    Resource Development Group (RDG) are Bullseye's accredited construction partners. RDG deliver a range of multi-discipline construction and maintenance services for mining across Australia. Through their wholly owned subsidiary company, Central Systems, RDG are in an advantageous position to bring a quality and strength of personnel with individual and collective experience and capability that can work symbiotically with Bullseye to bring the NLGP into successful gold production. RDG provide a full suite of new construction services as well as ancillary, remedial and protective maintenance services across all disciplines from heavy civil and concrete to SMPT (Structural, Mechanical, Materials, Piping and Tanks) as well as E&I (Electrical Installation and Testing). Through their wholly owned subsidary, Central Systems, the RDG management team have successfully delivered projects for major clients including BHP Billiton, Rio Tinto, Fortescue Metals Group, Newcrest and AngloGold Ashanti.

  • Mining Questions

  • 10. What kind of mining is being done?

    Bullseye will conduct opencast mining which is a type of surface mining in which gold is removed from the earth through large holes or pits excavated from the surface. Opencast mining is more cost effective than shaft and underground mining because more ore can be extracted more quickly at a lower unit cost.

    Another advantage is that space is not restricted in open pit mining. Trucks and mining machinery are free to move around as they need to. More machines can move more ore and haul off waste rock more quickly. The working conditions are safer for the miners because there is no risk of cave in or underground gas. Open pit mining is the preferred method for mining gold.

  • 11. How long will it be before the gold is mined?

    Development and Construction of Bullseye’s onsite gold processing plant is now underway with plant feasibility studies near completion from Como Engineers and advanced costing from Resource Development Group. It is expected that Troy’s gold products will be available in 18 - 24 months, subject to the completion of the NLGP feasibility study.

  • 12. How can I see the progress of the plant/mine?

    Throughout development, construction and mine production, TROY and Bullseye will issue updates on their websites and social media.