PERTH (miningweekly.com) – ASX-listed Metals X has completed the A$3-million acquisition of the Comet assets, in Western Australia, from gold miner Silver Lake Resources.
The deal was struck in November last year, and consisted of an all-cash consideration.
The Comet gold project covers about 50 km2 of tenement and included the Comet, Comet North and Pinnacles mines, which included the Lunar/Solar prospects. The project is estimated to host about 3.8-million tonnes of ore, at 2.9 g/t gold for 353 000 oz of gold.
Metals X has previously said that the company’s immediate focus at the Comet mine would be the planned development of an underground operation consisting of a current total mineral resource estimate of 1.46-million tonnes, at 4.8 g/t gold for over 225 000 oz.