October 30, 2008 A study continues on the prospectivity for iron at the Yalgoo Project area as significant long magnetic structures are interpreted as BIF’s.
The company has resubmitted the sample pulps from selective historical RC gold intercepts to test for lead and zinc anomalism that is believed to be related to gold mineralization within the region. Assay results were pending. (Jul30/08)
May 15, 2006 Announced that preliminary scoping study work has highlighted the viability for a low capital development of the project. Project production is estimated at 50,000oz gold for an open pit processing 600,000 tpa over a 16 month mine life. Capital costs are estimated at around $5 million. At this stage the company is confident of a positive result from the sensitivity analysis and hopes to be progressing towards a decision to proceed into mining within the coming months.
April 28, 2006 Once the pit optimisation test work has been completed with a favourable decision, it is anticipated that feasibility work will proceed soon after. The company is evaluating ways of ‘fast tracking’ this work. To further add to the potential resource ounces, the company has embarked upon a trenching programme to determine the width extent of the Don Bradman system.