ATW Venture (Australia) Pty Ltd
Gullewa Limited has a 1% royalty in several ATW Venture (Australia) Pty Ltd Mining Tenements.
This includes the Deflector Gold-Copper Project, located in the Gullewa Project area. Further exploration drilling was undertaken on the Deflector Gold-Copper Project which was successful in increasing the Mineral Resource to 770,000 Au Eq ozs. The global resource inventory for the Gullewa Project is now 872,000 Au Eq ozs.
The metallurgical testwork program was successful in meeting the key objective of developing a common gravity and flotation process to produce gold bullion and copper-gold concentrate from the oxide, transitional and primary material.
Gullewa Gold Mine
The Gullewa Project is located 450 km north of Perth, 160 km east of Geraldton and 300 km south west of ATW's 100% owned Bumakura Gold Mine in the Yilgam goldfields of Western Australia.
The Gullewa Project includes a total of 756 square kilometres of mineral tenements that cover the prospective central and southern portions of the Gullewa Greenstone Belt and include the Gullewa Mining Centre, the Deflector Deposit, the Prince George Mine, the Michaelangelo and Monarch Prospects.
Mining infrastructure asets of the Gullewa Project include a turn-key gold operation with a Carbon-in-Leach plant capable of up to 300,000 tpa (tonne per annum) gold production, a licensed tailings disposal facility, a 50-person camp, offices, workshops, bore fields and haulage roads. The site is currently on care and maintenance.
Deflector Gold Project
Gullewa Limited has a 1% royalty in the Deflector Gold Project owned by Doray Minerals Limited.
In the 30 June 2017 financial year Gullewa received $1,048,775 in royalties from Deflector Gold. In their 2017 Annual Report they included the following comments.
Highlights:
- On track to meet FY 2017 production guidance of 50,000-55,000 oz Au and 4,200-4,600 t Cu;
- FY 2018 forecast to produce 60,000-65,000 oz Au at AISC between A$1,225- A$1,275 inclusive of copper credits;
- Potential new discovery of Northern extensions; and
- High Grade drill intercepts from infill and extension drilling.
For more information on the Deflector Gold Project, please visit Doray Minerals' website.
