Proactive Investors - Run By Investors For Investors

Anova Metals seals gold toll treatment agreeement

Anova Metals seals gold toll treatment agreeement

Anova Metals (ASX:AWV) is joining the ranks of gold producers after reaching a toll treatment agreement with Veris Gold (OTCQB:YNGFF) to process ore from its Big Springs Gold Project in Nevada.

Shares in the company should trade higher today on the news.

The wholly-owned Big Springs project has a total Resource of 16 million tonnes at 2 grams per tonne gold for 1.03 million ounces of contained gold.

This includes a high grade core of 415,000 ounces at 4.2g/t gold.

Under the agreement, ore from Big Springs will be processed at the Jerritt Canyon Mill and Process facility about 42 kilometres away in batches of about 25,000 short tons.

This removes any requirement for Anova to have its own plant and reduces permitting requirements for its mining operation.   

Anova will deliver about 1,000 short tons of ore per day in accordance with an agreed schedule.

It activities at Big Springs are continuing to focus on permitting, completion of the final study work as well as selection of mining contractors in preparation for the commencement of mining.

The company also plans to carry out detailed analysis of the entire exploration data package.

Exploration targets identified will be prioritised and work programs planned for the 2015 field season.

Anova had raised $835,000 during the June Quarter by the issue of 20,875,000 shares at $0.04 each in a placement. It had $1.48 million in cash as of 30 June 2014.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full AWV profile View Profile

Anova Metals Timeline

Newswire
June 06 2017
Newswire
August 09 2016

Related Articles

Cobalt uses image
November 14 2018
The offtake will be sourced from the sulphide cobalt earn-in Werner Lake project in Canada.
1533209631_Shefa-Yamim---Kishon-River.jpg
August 02 2018
Shefa Yamim has a highly prospective gemstone project in Israel
1540357239_kalgoorlie.jpg
October 24 2018
The company’s total mineral resource is now 8.4 million tonnes at 2.08 g/t gold for 562,000 ounces.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use