Ord River signs ore treatment deal with Northern Star
PERTH (miningweekly.com) – ASX-listed Ord River Resources has signed an ore treatment agreement with fellow-listed gold miner Northern Star Resources over the Plutonic Dome gold project, in Western Australia.
Ord River said on Wednesday that the treatment agreement would facilitate the processing of ore from the K2 underground development project, which forms part of the Plutonic Dome joint venture (JV), at Northern Star’s Plutonic processing facility.
Northern Star would be paid for the processing services through the provision of gold at the point of refining, Ord River said.
“Ord is rapidly progressing towards the development of the K2 underground project. The signing of the ore treatment agreement with Northern Star represents a significant milestone towards achieving this goal in the near-term,” said Ord River MD Frank Zhu.
“The coming months for Ord will involve a significant level of activity as we expeditiously work towards commencing production.”
Ord River is sole funding up to A$6-million in exploration work over the next two years, to earn a 75% interest in the Plutonic Dome project from ASX-listed Dampier Gold, and will act as project manager for the sole-fund period, after which the party holding the highest joint venture interest will be the manager.
A definitive feasibility study on the K2 orebody has revealed that it could deliver some 37 000 oz of gold over a three-year period.
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