PERTH (miningweekly.com) – ASX-listed WPG Resources has been granted a mineral lease over its Tarcoola asset, in South Australia.
The mineral lease would cover some 725 ha and would be valid for a period of ten years.
“WPG is pleased to have finalised this key step in the permitting process for the Tarcoola gold project,” said executive chairperson Bob Duffin on Wednesday, saying that the grant of the mineral lease was a further milestone to transform WPG from an iron-ore focused company to an emerging gold producer.
“Now that the mineral lease has been granted, the programme for environment protection and rehabilitation (PEPR) can be finalised and lodged. Once the PEPR is approved, WPG will be in a position to commit to project development at Tarcoola.”
A 2015 feasibility study had estimated that the project would require a capital expenditure of A$16.7-million to support production of 20 000 oz/y of gold, over a mine life of three years.
The project was expected to start in 2016.