News and Announcements
Intermin Signs Exploration Farm-in JV with Eastern Goldfields Ltd
- Published June 01, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Further to the announcement on 5 September 2016, Eastern Goldfields Limited (ASX: EGSis pleased to announce that it has signed an Exploration Farm-in Joint Venture Agreement for certain tenements at the Menzies and Goongarrie projects with Intermin Resources Limited (ASX:IRC) (Intermin) and its wholly owned subsidiary Black Mountain Gold Ltd (BMG) (Agreement).
The Tenements contain nearly 200,000 oz Au in reported resources*, with historic production in excess of 830,000 oz, primarily from underground sources. The Project areas lie approximately 50km northeast and east of the Davyhurst mill.
Executive Chairman Michael Fotios said:
“The signing of the Agreement completes the formalities of this matter. The deal has not changed from when we announced the signing of the Heads of Agreement on 5 September 2016. We are now excited by proceeding to undertake an earn in to a potential 65% interest in the Joint Venture, which may include a feasibility study into the establishment of a second mine potentially to be located in the Mt. Ida/Menzies region.
“We look forward to keeping the market informed as we progress.”
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