Magnetic Resources (ASX:MAU) announces that it has executed an agreement with privately held Blue Cap Mining to provide ‘early works’ at the Hawks Nest 9 and Lady Julie deposits within the Laverton Project.
The early works will be undertaken to procure the necessary regulatory approvals for the deposits and further assessing the viability and economics of the projects.
The agreement stipulates that Blue Cap will provide mining proposal studies, resource definition work, further metallurgical recovery tests, environmental studies and other regulatory approvals.
The majority of Blue Cap’s recent experience and work has been in gold in and around the Laverton and Kalgoorlie regions.
The early works agreement must be completed within 12 months (September 2023).
Commenting on the agreement, Magnetic Resources Managing Director George Sakalidis said: “The engagement of Blue Cap provides the company with the ability to fast track work associated with proving the economics of the Hawks Nest 9 and Lady Julie deposits by using a very experienced team at Blue Cap.”
“The engagement of Blue Cap provides the company with the ability to fast track work associated with proving the economics of the Hawks Nest 9 and Lady Julie deposits”
The agreement can be terminated with 3 months’ notice by either party.
Magnetic Resources’ primary focus is the advanced Hawks Nest 9 and adjacent Lady Julie gold assets in the Laverton region of Western Australia.
These assets are large-scale and at surface. The shallow gold is withing close proximity to existing mining operations and infrastructure in the region.
Images: Magnetic Resources Limited
