https://www.miningweekly.com

Snake Well sale completed

12th February 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Kalamazoo Resources has completed the A$7-million sale of its Snake Well gold project, in Western Australia.

The company in November of last year reached an agreement with privately-held Adaman Resources to divest of the project, while maintaining a 2.5% net smelter royalty on any base metals mine at the project area.

Snake Well has a mineral resource inventory of 1.79-million tonnes, grading 2.45 g/t gold for 141 000 oz of gold.

Kalamazoo said on Tuesday that the A$7-million sales proceeds, which will be payable over 24 months, will be used to fund the company’s aggressive exploration and drilling programme at its Wattle Gully gold project, in Victoria, and its Cork Tree copper project and Pilbara gold tenements, in Western Australia.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION