viewJervois Mining Ltd

Jervois Mining secures exploration licence in prospective Mt Ida Belt


Jervois Mining (ASX: JRV) has been granted an exploration licence covering the Mt Ida Gold Mine, which is located on a highly prospective fault responsible for numerous gold discoveries along its 200 kilometre strike length.

Having the exploration licence now in hand, this marks Jervois’ return to gold mining with the company having pegged the licence in early July 2012.

The Mt Ida Gold Mine is located 86 kilometres northwest of Menzies, Western Australia, within the Mt Ida Greenstone Belt.

The historical production from Mt Ida was over 290,000 ounces of gold from underground mines, while the nearby Timoni Gold Mine (Copperfield) produced over 260,000 ounces of gold and Bottle Creek has a recorded production of 39,000 ounces of gold.

The tenement was pegged following studies of previous work done by Delta Gold in the mid 1990s showing the presence of the Bottle Creek Shear with convergence of the Mt Ida Fault.

The major structures in the Mt Ida area are closely associated with mineralisation.

The Ida Fault intersects EL 29/861, which covers the Mt Ida Gold Project. The ore from Mt Ida is a sulphide which could potentially contain copper.

Exploration for potential gold mineralisation will begin in the June quarter of this year.

Jervois is currently undertaking a non-renounceable pro-rata rights issue to raise up to $2.2 million.

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.

Quick facts: Jervois Mining Ltd

Price: 0.21 AUD

Market: ASX
Market Cap: $134.74 m

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