A scoping study has delivered an internal rate of return (IRR) of 1,152% for Northwest Resource’s share of the Camel Creek joint venture near Millennium Minerals' producing Nullagine gold mine.
Northwest Resources
www.nw-resources.com.auNorthwest Resources (ASX: NWR) is focused on developing its flagship Nullagine Gold & Antimony Project in the eastern Pilbara region of Western Australia. The project hosts a combination of high grade gold/antimony deposits amenable to underground mining located on the Blue Spec Shear and numerous moderate grade open pitable satellite deposits located on the Camel Creek Trend.
In-Depth Northwest Resources Articles
Archive-
-
04/04/2013
Northwest Resources delivers higher antimony grades in Western Australia
Northwest Resources has delivered strong final antimony results from recent drilling at the Blue Spec and Gold Spec Projects which are consistently well above the modelled grades for each deposit. The higher grades will enable a cleaner, more valuable concentrate to be produced.
-
14/03/2013
Northwest Resources finds more high grade gold at Blue Spec & Gold Spec
Northwest Resources has today delivered "outstanding preliminary gold assays", with intersections from drilling some of the widest recorded by the company at both Blue Spec and Gold Spec projects. The two projects are located in the Nullagine Goldfield in the Pilbara region.
-
29/01/2013
Northwest Resources hits exceptional gold antimony intercept at Blue Spec
With an exceptional intercept of 8 metres at 33.6 grams per tonne gold and 1% antimony including 4.4 metres at 60.2g/t gold and 1.9% antimony as well as at holes intersecting the predicted mineralised shear structure, Northwest Resources now has a high level of confidence in the continuity of the Blue Spec structure and its underground development plans.
-
18/12/2012
Northwest Resources gold/antimony project draws interested offtakers
Demonstrating the potential for gold-enriched antimony concentrate from Northwest’s Blue Spec Shear Project to be an attractive product, numerous overseas parties have expressed interest in securing offtake rights to future concentrate production. The project has drawn comparisons to other Western Australian high grade narrow vein gold projects such as Northern Star Resources' Paulsens project.
Northwest Resources News
Archive13/05/13
Northwest Resources to issue stock for drilling services12/11/12
Northwest Resources' drilling targets Blue Spec gold / antimony resource upgrade15/10/12
Northwest Resources MD continues on market buying03/10/12
Northwest Resources granted trading halt to finalise capital raising24/05/12
Northwest Resources: Camel Creek JV doubles gold Resource
Related Media
Archive-
17/10/2012
Northwest Resources One2One Investor Presentation 17 October 2012 (PDF)
Northwest Resources One2One Investor Presentation 17 October 2012
Presentations & Company Media
-
13/09/2012
Company Presentation (Presentation)
Related Research & Media
No documents available.
Company Statement:
Northwest Resources Limited is an Australian based mining company with a focus on gold. The company is listed on the Australian Securities Exchange (ASX code: NWR) and has two gold projects in the Nullagine Goldfield in Western Australia.
Northwest plans to bring its flagship 100% owned Blue Spec Shear Gold-Antimony Project into production in 2014 as one of the highest grade underground gold mining centres in Australia. A 50:50 production joint venture with Millennium Minerals Limited ensures that Northwest’s Camel Creek Gold Project will come into production in 2014-2015.
Northwest believes that these projects will generate excellent returns for the company enabling it to establish a generous dividend policy whilst also funding our growth ambitions to acquire new developed, developing and turn-around gold and base metal projects in Australia.
Current Operations:
Blue Spec Shear Gold-Antimony Project (100%)
Northwest’s flagship project plans to bring the high-grade Blue Spec and Gold Spec deposits into production as a narrow vein underground mining operation producing a gold enriched antimony concentrate for direct sale. The Blue Spec & Gold Spec deposits have a current JORC compliant Mineral Resource estimate of 328,000 oz of gold and 7,900 tonnes of antimony (646Kt @ 15.8g/t Au and 1.2% Sb) which compares favourably to some of the highest grade narrow vein gold mines in WA (including Daisy Milano – Silverlake, Paulsens – Northern Star & Wilbur – Doray Minerals).
The Blue Spec Shear Zone is a highly mineralised corridor which is underexplored outside the immediate Blue Spec-Golden Spec area. Northwest believes that the initial 5 year project life based on development of the Blue Spec and Gold Spec deposits can be substantially increased through discovery of additional high-grade deposits along the shear.
Camel Creek Gold Project (50% current Mineral Resources; 100% exploration rights)
The project currently contains four shallow open pit gold deposits (no antimony) with a total JORC compliant Mineral Resource estimate of 105,000oz of gold (2.67Mt @ 1.23g/t Au). In 2012, Northwest finalised a joint venture with established miner Millennium Minerals Limited (ASX code: MOY) to bring the Camel Creek deposits into production. Under the JV Northwest contributes the four existing gold deposits in the project and Millennium contributes its mining capability and processing plant located in the Nullagine Goldfield. The parties are each entitled to 50% of the physical gold production from the Camel Creek deposits and will share equally the joint venture mining, processing and rehabilitation costs. Millennium manages the JV.
The Camel Creek JV deposits require a small amount of further drilling prior to mining studies and pit optimisations to prepare Ore Reserves for each deposit. Mining of the JV deposits is currently scheduled for late 2014/early 2015. No other material operating expenditure is required until the commencement of mining. Northwest is not required to contribute any capital expenditure to Millennium or the JV.
Management
Management
Mr. John Merity
B.A., LLB (Hons), GAICD
Managing Director
Mr. Merity has 16 years experience in business and the legal sector, commencing with KPMG in Sydney and then senior roles at Allan & Overy in London where he specialised in corporate and project finance. Mr. Merity led Northwest’s IPO in 2004 and became its founding Managing Director. Mr Merity has also been a non-executive director of Inverness Medical Australia (a joint venture between Alere, Inc. and Proctor & Gamble) since 2005.
Mr. Allan King
B.App.Sc (Min. Eng), MAusIMM
Executive General Manager
Mr. King has 35 years experience in the mining industry commencing as an underground miner before progressing through WMC’s management ranks. He has held a number of senior positions including roles as Chief Operating Officer with Apex Minerals (Gold - Wiluna) and General Manager of Operations with Resolute Mining (Gold – Ravenswood, Syama & Golden Pride), LionOre (Gold & Nickel – WA), Aditya Birla (Copper - Nifty) and Griffin Coal (Coal – Collie). Prior to these roles Mr. King was the Mining Manager at the KCGM Superpit in Kalgoorlie and the Resident Manager at both the Bounty underground gold mine (Forrestantia Gold) and the St Ives gold operations in Kambalda (WMC).
Mr. King was appointed Executive General Manager of Northwest in December 2011.
Mr. David Lyon
B.Sc, MAGPO (P. Geo)
Geology Manager
Mr Lyon has over 14 years in the mining industry with particular experience in high grade, narrow vein underground gold operations. Since moving to Western Australia in 2008, David has held senior roles with Newmont Asia Pacific managing the resource development team at the Jundee underground gold operation. Prior to this, he worked for several years in a special projects role at Goldcorp's flagship underground gold mining operation in Red Lake, Ontario. David is a member of the Association of Professional Geologists of Ontario.
Board of Directors
Mr. Jim Colquhoun
LLB (Hons)
Independent Non-Executive Chairman
Mr. Colquhoun is a lawyer with over 35 years' experience advising governments, statutory authorities and public companies in several business sectors including extensive involvement with the mining sector. Mr Colquhoun held the positions of Chairman of the ACT Racing Club and Chairman of ACT TAB Limited. He has also been a director of a number of listed Australian companies.
Mr.Colquhoun was appointed to the Board in 2004. He is the Chairman of the Audit and Remuneration Committees.
Mr. Peter Richard
Independent Non-Executive Director
Mr. Richard is stockbroker with over 35 years’ experience in Australian capital markets. During a long career in the stock markets, Mr. Richard was a director of Jacksons Ltd, then the largest underwriter of mining and exploration floats in Australia. Mr. Richard currently provides consulting services to emerging mining and technology companies. He has previously been a director of a number of listed Australia public companies in the resources sector.
Mr. Richard was appointed to the Board in 2008. He is a member of the Audit and Remuneration Committees.
Major Shareholders
No info available.
Contact Information
Suite 8, Level 2
325 Pitt Street
Sydney NSW 2000
Telephone: +61 2 9267 7661
Email: info@nw-resources.com.au
Corporate Information
ASX code: NWR
Issued shares: 202,345,418 Fully Paid Ordinary Shares
