- Write by:
-
Tuesday, November 10, 2020 - 12:29:33 PM
-
683 Visit
-
Print
Mining News Pro - Newcrest Mining has withdrawn from its Euro gold project farm-in agreement with Prodigy Gold in the Tanami region of the Northern Territory.
According to Prodigy, delays in land access was further compounded by COVID-19, therefore hampering the progress of the project.
Newcrest had the opportunity to earn up to a 75 per cent interest in the project by sole funding up to $12 million over seven years under the farm-in agreement.
The company did not meet the stage one requirement of spending $6 million within a period of four years to earn a 51 per cent interest in Euro, and as such the project’s full ownership will remain with Prodigy.
“Prodigy Gold would like to thank Newcrest for the work completed at the Euro project over the past 28 months,” Prodigy stated.
“A review of these work programs is currently underway and will be used to determine opportunities for follow-up exploration.”
Newcrest received encouraging results from drilling completed at the Dune prospect within the Euro project.
Results within the prospect included two metres at 12 grams per tonne of gold from 105 metres, and eight metres at 1.9 grams per tonne of gold from 94 metres.
This is located 1.5 kilometres away from Newmont’s Oberon deposit within the Tanami project.
Short Link:
https://www.miningnews.ir/En/News/608160
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...