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North Queensland Gold Project Opportunity For Sale

Townsville, Queensland, Australia
Asking Price:
$7,000,000 (AUD)
Sales Revenue:
Available on request
Cash Flow:
Available on request

Granted Mining Leases ML3333 and ML3434
Exploration Permit EPM 25731

Location / Infrastructure:
* North Queensland location, 7 hours drive from Townsville or Cairns
* 120km south of closest bitumen airstrip (Forsayth)
* Regional proximity to high grade gold mineralisation at Agate Creek

Opportunity:
- Potential for near-term start-up of mining operations with mining leases already granted
- High grade gold mineralisation exhibited
- Regional processing opportunities
- Additional ground pegged around mining leases for future exploration upside

Historical Mining:
* Historical mining at ML3333 from 1922-36 (stopped by water inundation)
* Historical workings on 3 lodes
* Official production recorded of 1,033oz from 1,270t of ore (>25g/t gold grade)
* Mining commenced from surface to a depth of 27m
* Modern mining techniques would assist in facilitating greater recovery of gold.

Gold Outlook:
- Outlook for Australian gold is very positive due to global economic uncertainty and weakening AUD
- Early mining start-up can capitalise on buoyant gold price.

Seller’s Price: $8.5m

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