- Write by:
-
Monday, March 16, 2020 - 2:40:42 PM
-
609 Visit
-
Print
Mining News Pro - Exploration firm Rambler Metals and Mining Canada has signed a letter of intent (LoI) with Maritime Resources to evaluate the former’s Nugget Pond gold plant.
According to Mining News Pro - The Nugget Pond plant is located in the Baie Verte peninsula in northeastern Newfoundland, Canada.
The LoI signed with Maritime includes an exclusivity period of 12 months to evaluate Rambler’s Nugget Pond gold plant.
Maritime Resources president and CEO Garett Macdonald said: “This agreement provides Maritime with a twelve-month exclusive period to evaluate the Nugget Pond Gold Plant in further detail for potential future processing of Hammerdown mineralisation.
“The gold circuit is currently idle and was operated in the past by Richmont Mines, processing feed from the former Nugget Pond and Hammerdown gold mines with gold recoveries of over 95%.”
The gold plant is a small section of the total Nugget Pond concentrator plant. It is not used to process ore by Rambler.
According to the companies, the LoI is to explore processing feed from the Maritime’s Hammerdown gold project at the plant and to complete a feasibility study with the option to negotiate a purchase agreement during that time.
Hammerdown is an underground mining project located in the Newfoundland & Labrador province of Canada.
Rambler president and CEO Andre Booyzen said: “The gold circuit of our concentrator plant has remained unutilised for some time, and apart from the addition of a grinding circuit, will not require significant further investment.
“Our agreement with Maritime will not distract us from our focus on continuing to develop our operations to 1,500tpd of ore processed at >2% Cu. We look forward to the start of a long and mutually beneficial relationship with Maritime’s team.”
Short Link:
https://www.miningnews.ir/En/News/502992
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the ...
Ivanhoe Electric (NYSE American: IE) (TSX: IE) terest in the Samapleu-Grata nickel-copper project in Côte d’Ivoire after ...
SolGold has managed to slash the upfront cost of the 100% owned Cascabel project in Ecuador while the company continues ...
Dolly Varden Silver (TSXV: DV) has discovered a new, gold-rich zone to the northwest of its Homestake Silver deposit in ...
Anglo American is in the early stages of exploring for copper and cobalt in Zambia’s North-Western province, its chief ...
Mining News Pro - Canadian junior Adventus Mining is acquiring cohort Luminex Resources in an all-stock deal that ...
No comments have been posted yet ...