Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Dampier Gold Limited (ASX:DAU) is pleased to announce the results of recently completed resource estimates for the K1 and K2-K3 deposits located within the company’s 100%-owned Plutonic Dome project.
These updated estimates continue Dampier’s methodical review of previous models generated for the significant gold deposits within the Plutonic Dome project area. The new resource estimates are based on drilling completed by the previous owners and by Dampier in 2010 and incorporates updated interpretations of the mineralization.
Initial pit optimisation studies indicate that the K1 and K2-K3 resources reported here have strong potential for conversion to mineable reserves. These deposits are currently the subject of a Scoping Study to determine the viability of re-establishing a mining centre in this area. Dampier has framework terms of agreement with Barrick to treat any such ore through Barrick’s Plutonic processing facility.
For more details read the full press release
Image by Dampier Gold
