https://www.engineeringnews.co.za

Blackham and GWR strike gold deal

23rd November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Blackham Resources has struck a binding heads of agreement (HoA) with fellow-listed GWR Group for the exploration, development, mining and processing of gold resources from GWR’s Wiluna West project, in Western Australia.

The Wiluna West project is some 40 km from Blackham’s own Wiluna treatment plant, and has a defined free milling gold resource with a combined inventory of 254 000 oz.

Under the HoA, the two companies are proposing to form a joint venture (JV) by December this year, under which GRW will drill the separate deposits making up the Wiluna West project to a Joint Ore Reserves Committee-compliant resource level, at their own costs.

The company would also be responsible for all initial metallurgical test work and approvals associated for the project area.

Blackham will undertake feasibility studies to determine the economic potential of the deposit, and upon completion, could elect to start mining and processing of the ore reserves.

Blackham will act as manager of the JV, and will be responsible for the pre-development, mining operations and processing the gold ore at its Wiluna gold plant. Once mining has started, all costs will be shared in proportion to the JV, with Blackham expected to hold a 65% interest, and GWR a 35% interest.

Blackham MD Bryan Dixon said on Friday that the HoA represented an opportunity for the company to partner with an emerging junior in the Wiluna district for the benefit of both parties, and was consistent with the company’s strategy of strengthening and lengthening its free milling reserves within trucking distance of the Wiluna plant.

GWR chairperson Gary Lyons told shareholders that the agreement was a significant milestone for the company, transitioning GWR from developer to producer, and locking in consistent revenue in both the short and long term.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 0.628s - 140pq - 2rq
Subscribe Now