PERTH (miningweekly.com) – Junior Crusader Resources will be renamed Big River Gold on its relisting to the ASX.
The company on Friday said that the name change recognised and reflected the Brazilian state of Rio Grande do Norto, in which its Borborema gold project is located.
The company on Friday announced that all major permits required to start construction of the mine had now been granted, following the grant of an installation permit by the state government’s environmental department.
Executive director Andrew Richards said that the grant of the installation permit was a very significant step forward for the project and the company, as licensing was one of the most difficult and time-consuming hurdles in establishing a new mine in the region.
The installation permit covers some 490 ha and permits an operation producing and processing up to 4.2-million tonnes a year.
Borborema has a 2.43-million-ounce Joint Ore Reserves Committee-compliant mineral resource estimate and a 42.4-million-tonne ore reserve containing 1.61-million ounces of gold.
Crusader will now review the project’s feasibility study with the aim of improving the project concept and design.