Leonora South is GoldArc's Kookynie-area hub about 60 kilometres south of Leonora. It contains the Orion and Sapphire Inferred resources totalling 48,014 ounces and a broad set of high-grade exploration prospects including Eclipse, Cosmopolitan, Niagara, Whistler, Woodpecker and Justice. A binding term sheet with Mineral Mining Services provides a framework for MMS to fund up to A$20 million of initial Orion-Sapphire development expenditure, recoverable only from project proceeds, followed by a 50/50 residual-proceeds split. Formal documents, due diligence, approvals, resource definition and mine planning were still required.
- Country
- Australia
- Commodity
- Au
- Stage
- Exploration