De Grey to acquire Ashburton Gold Project in Australia
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
De Grey Mining Limited has announced it has entered into an Option Agreement with Kalamazoo Resources Limited relating to the Ashburton Gold Project in the Pilbara region of Western Australia.
Ashburton covers an area of 217 km2 and is located approximately 290 km south of the Hemi Gold Project.
Commenting on the Option Agreement, Managing Director Glenn Jardine said: “The proposed 10 Mtpa gold plant at Hemi, including a 0.8 Mtpa POx circuit, will be a regionally strategic asset that provides the company with the potential to treat gold ore and concentrates from other regional gold Projects. This leverage has the potential to increase Hemi’s annual gold production rate, economic returns and Project life.
“Ashburton’s 1.44 million oz resource is one of the largest unmined gold Resources in the Pilbara outside of Hemi. It has previous mining history, an extensive drilling database, and development concept studies which indicate it may be complementary with our development strategy for Hemi.
“The company’s current scoping study into its 2.2 Moz Hemi Regional Resource is also consistent with this strategy. However, the potential development of additional production sources outside the Hemi deposits would occur only following the commencement of production and cashflow from Hemi itself.”
Read the article online at: https://www.globalminingreview.com/mining/07022024/de-grey-to-acquire-ashburton-gold-project-in-australia/
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