PERTH (miningweekly.com) – ASX-listed Matsa Resources has inked an ore purchase agreement with gold miner AngloGold Ashanti over production from the trial mine at the Fortitude gold project, at the Lake Carey operation, in Western Australia.
Under the terms of the agreement, AngloGold Ashanti will buy the ore produced at the Fortitude project, to treat at its nearby 3.8-million-tonne-a-year mill at the Sunrise Dam gold mine.
“The execution of the agreement with such a reliable and successful company as AngloGold Ashanti is a tremendous result,” Matsa executive chairperson Paul Poli said on Tuesday.
“This agreement now removes the final hurdle to the go ahead for trial mining to commence at Fortitude. We look forward to working with AngloGold Ashanti during the term of this agreement, and hopefully beyond to a large mine plan in the future.”
Matsa is expected to invest some A$1.2-million in capital to start trial mining at Fortitude, with all government approvals for the operation already in place. The trial mine is expected to produce some 185 000 t of ore, grading 2.2 g/t gold containing around 12 100 oz of gold.