KALGOORLIE (miningweeky.com) – Nickel-focused Panoramic Resources would undertake a more formal process to sell its Gidgee gold project, MD Peter Harold said on the sidelines of the Diggers & Dealers conference.
Panoramic and its joint venture partner Matsa Resources sold the Mt Henry gold project to fellow-listed Metals X in July, in exchange for 22-million fully paid ordinary shares in the company.
The Mt Henry project had a Joint Ore Reserves Committee-compliant resource of some 1.65-million tonnes, grading 1.19 g/t gold for 922 900 oz.
Harold said on Wednesday that a number of parties, including Chinese investors, had already shown an interest in buying the Gidgee operation.
A 2012 scoping study estimated that the project would require a capital investment of some A$127-million to deliver an 80 000 oz/y to 90 000 oz/y operation.
The project covers some 1 200 km2 of prospective tenements in the East Murchison province.