Murchison Operation - WA

 

  • Located south east of the town of Cue, 600km north east of Perth
  • The Murchison Operation was placed on care and maintenance in June 2014
  • In November 2015 the Company entered into a Farm-in and Joint Venture Agreement with Musgrave Minerals Limited (ASX:MGV) in respect of its non-core tenure in the Murchison area
    • under the Farm-in MGV may earn up to an 80% joint venture interest in tenements comprising the Moyagee Gold and Hollandaire Copper Projects (Cue Projects)
    • MGV are obligated to spend a minimum of A$900,000 on exploration on the Cue Project Tenure over the next 12 months
  • The 1.2Mtpa Murchison processing facility and associated core tenements do not form part of the transaction and continue to be retained by the Company
  • The Murchison Operation reported a 2016 JORC Resource of 10.6Mt @ 2.0g/t Au for 685koz