Proactive Investors - Run By Investors For Investors

ERO Mining given green light to acquire gold project in the Yilgarn Craton, Western Australia

ERO Mining given green light to acquire gold project in the Yilgarn Craton, Western Australia

ERO Mining (ASX: ERO) has received the necessary consents and approvals to proceed with the acquisition of the Spargoville Gold Project in the Yilgarn Craton, Western Australia, from Ramelius Resources (ASX: RMS).

The project encompasses the previously mined, high-grade Wattle Dam deposit that produced 286,000 ounces of gold at an average grade of 10.1 grams per tonne between 2006 and 2012 as well as over 11,440 hectares of surrounding tenements.

ERO views Spargoville as an advanced exploration project which is prospective for blind orogenic structurally controlled gold lode deposits, similar to Wattle Dam.

The Spargoville Project consists of a substantial tenement package of 27 granted mining leases, two granted exploration licences, five prospecting licenses and two miscellaneous licences which include 100% gold rights and various nickel rights.

It is located 60 kilometres southeast of Coolgardie and 25 kilometres southwest of Kambalda within the Coolgardie Mineral Field.

ERO is paying Ramelius 133.3 million shares for the 100% stake in the project.

 

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 TYK profile View Profile

Tychean Resources Timeline

Newswire
March 14 2013

Related Articles

Picture of pilot plant
April 05 2018
An impressive pre-feasibility study features a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.
Line of lode at Broken Hill
October 31 2018
The company says the decision by its JV partner represents a big shift in value for shareholders.
silica sand
October 02 2018
Silica sand is a strong growth mineral due to the demand by the construction sector where it is used in the manufacture of flat glass for windows.

© Proactive Investors 2019

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