Eastern Goldfields (EG) has signed a joint venture agreement to explore some of Intermin Resources’ gold mining projects in Western Australia.
The agreement includes certain tenements at Intermin Resources’ Menzies and Goongarrie projects, situated roughly 50km northeast of the Davyhurst gold mine.
The tenements contain nearly 200,000 oz Au in reported sources, with historic production in excess of 830,000 oz – primarily from underground sources.
The deal has not changed from when EG announced the signing of the Heads of Agreement on September 5, last year.
“We are now excited by proceeding to undertake an earn-in to a potential 65 per cent interest in the joint venture,” said Michael Fotios, EG’s executive chairman.
The venture may also include a feasibility study into the potential to establish a second mine located in the Mt Ida/Menzies region.