Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Northwest Resources gold/antimony project draws interested offtakers  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 18/12/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Northwest Resources (ASX: NWR) is attracting substantial overseas interest in securing the offtake rights to future concentrate production from the Blue Spec Shear Gold-Antimony Project in Western Australia.

The company is progressing discussions with selected parties and due diligence in Australia by potential offtake partners is planned to begin from January.

Northwest is aiming to bring the Blue Spec and Gold Spec deposits into production in 2013 as a high-grade narrow vein underground mining operation producing a gold enriched antimony concentrate for direct sale.

The company then plans to expand the project beyond its initial five year mine life through the discovery of additional high grade deposits along the highly mineralised Blue Spec Shear Zone.


On path to resource upgrade

Northwest is currently undertaking an infill diamond drilling program at the Blue Spec and Gold Spec deposits to increase the Indicated component of the current resource.

The resource at Blue Spec and Gold Spec currently stands at 646,000 tonnes at 15.8 grams per tonne (g/t) gold and 1.2% antimony for 328,000 ounces of gold and 7,900 tonnes of antimony.

Drilling is designed to improve the overall confidence in the Blue Spec and Gold Spec geological models and enable a maiden Ore Reserve to be prepared as part of the ongoing Definitive Feasibility Study for the project.

To date, the six deepest holes of the Blue Spec program have been completed and despatched to ALS Laboratories Perth for assaying.

Importantly, all holes have intersected the main Blue Spec Shear ore zone as planned.

The Blue Spec holes have also consistently intersected a previously undefined ore zone within a splay shear about 20 metres to the north of the Blue Spec Shear ore zone.

Further investigation of this new splay shear, including a review of core from earlier diamond drilling programs, will be undertaken to evaluate its potential to add to the resource inventory at Blue Spec.

The rate of completion of holes will now increase as shallower holes at Blue Spec and the Gold Spec holes are undertaken. Assays for the initial holes are expected in January.


New appointments

Northwest has made a number of new senior appointments to the management team.

David Lyon has been appointed as geology manager. He has over 14 years in the mining industry with particular experience in high grade, narrow vein underground gold operations.

Since moving to Western Australia in 2008, Lyon has held senior roles with Newmont Asia Pacific managing the resource development team at the Jundee underground gold operation.

Prior to this, he worked for several years in a special projects role at Goldcorp's flagship underground gold mining operation in Red Lake, Ontario.

Greg Hardes has been appointed as occupational health, safety and environment manager.

Hardes has over 20 years experience in the mining industry having held a number of senior positions including OHS manager for Silver Lake Resources (Gold - Murchison Project), Apex Minerals
(Gold - Wiluna), Aditya Birla (Copper - Nifty) and registered manager of Stirling Resources (Gold " Daveyhurst/Mt Ida).

Peter Stockman has been appointed as a senior geological adviser.

Stockman has over 25 years experience gained in exploration, resource development and operational roles across a broad range of commodities.

He is currently employed by Ravensgate as a principal consultant.

Prior to joining Ravensgate, Stockman has held a number of senior technical or geological management positions with several companies including Sinosteel Midwest, Placer Dome (Tanzania), Golden Star Resources, WMC Resources, Oxiana, ERA (North Ltd), Newcrest, and most recently, Global Advanced Metals.

 






  MENA News Headlines
Apr 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

Apr 23 2014Saudi- Noha Al-Sharif — an expert in Islamic sculpture ,Arab News
(MENAFN - Arab News) Saudi sculptress noha al-sharif is known for her islamic inspired sculptures that reflect both religion and lifestyle. the concept of modern art attracted her to this medium ...

Apr 23 2014Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...

Apr 23 2014Seven tied for the lead in chess championships ,Khaleej Times
(MENAFN - Khaleej Times) Former champion sukandar grabs lead of asian continental women?s chess. former asian women’s champion wgm irene sukandar of indonesia (left) beat wim ni shiqun ...

Apr 23 2014Saudi- ASUS showcases product series at Aramco Week ,Arab News
(MENAFN - Arab News) Asus described as the world's renowned consumer notebook vendor and producer of the 'world's best-selling motherboards" recently participated in aramco week and showcased a ...

Apr 23 2014Saudi- Five to die for 2003 attacks ,Arab News
(MENAFN - Arab News) A special criminal court on sunday convicted five people of terror related charges and sentenced them to death. thirty-seven others were sentenced to varying prison terms for ...

Apr 23 2014Qatar's Ezdan Holding buys 20 percent stake in Widam Food ,MENAFN
(MENAFN) Qatar-based Ezdan Holding Group said that it acquired a 20.16 percent stake in Widam Food Co. in a bid to promote investments and diversify its portfolio, The Peninsula Qatar ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help