PERTH (miningweekly.com) – Mining at the Burbanks gold project, in Western Australia, is expected to start shortly, with infrastructure site works completed to facilitate portal and decline development, ASX-listed Barra Resources said on Friday.
“This is an exciting milestone for Barra. We can now start to unlock the potential at Burbanks on a zero risk basis,” said chairperson Gary Barrell.
“We want to get to a point where successful joint venture (JV) mining in Stage 1 will enable the depth potential of Burbanks to be unlocked through exploration drilling.”
Under the terms of an exploration and mining JV agreement, FMR Investments will carry all mining and financial risks on agreed mining operations within the licence area, with profits split equally.
The Stage 1 operation is aimed at better understanding the orebody and efficacy of the selected mining methods in order to maximise mining performance of the operations over the longer term, and to develop underground drilling platforms to enable optimal exploration targeting down-dip extension adjacent to and below the existing historical mine areas.