Union Jack comprises mining lease M15/120 and adjoining prospecting licence P15/6183 over 89 hectares, 5km east of Coolgardie and approximately 15km from Burbanks. It is a potential open-pit gold feed source for Burbanks. Auric has signed purchase agreements but states that the project is not yet owned; M15/120 is held by EazyOz Resources Pty Ltd and is under application for renewal. The proposed mining-lease acquisition includes a 1% gross royalty on gold produced and sold, in addition to the 2.5% WA state royalty. Mining remains subject to normal permitting requirements, and metallurgical, geotechnical, hydrological and environmental work remains to be undertaken.
- Country
- Australia
- Commodity
- Au