"We've had a new discovery where we have found a parallel structure in the limestones, which is called the Tres Amigos [Resource]... We have found three separate structures, one of which we have defined for 400 metres vertically, and the two parallel structures sitting underneath it are yet to be well-defined. So we've got continuity along strike of 600 metres, but we have surface expression over seven kilometres," says Marwood.
Existing infrastructure from historic mining operations gives the company good access to the orebody, and a processing plant that will be refurbished.
The project will be developed in three phases, with the Stage 1 development happening this year. Marwood says, "we're anticipating that we'll be in production before the end of the year... we're currently looking at less than US$5 million to bring the mine into production."
Angela Pankhurst will join the board as non-executive director effective August 1st.