RELEASE
24 July 2012
Blue Spec Shear Gold-Antimony Project Update and Next
Steps
Northwest Resources Limited (ASX: NWR, "Northwest" or "the
Company") is pleased to provide
an update on development plans for the Company's flagship
Blue Spec Shear Gold-Antimony and to outline the next steps
towards completing a definitive feasibility study on the
project by the end
of 2012.
Northwest's vision for the Blue Spec Shear Gold-Antimony
Project is to bring the Blue Spec and Gold Spec deposits into
production in 2013 as a high-grade narrow vein underground
mining operation producing a gold enriched antimony
concentrate for direct sale and then to expand the project
through the discovery of additional high-grade deposits along
the shear zone.
Following very positive results from both the recently
released Mining Study and first phase Metallurgical Study
flotation tests for the Blue Spec Shear Gold-Antimony
Project, Northwest has committed to completing a definitive
feasibility study on the project by the end of 2012.
Key next steps include:
Completing of backfill options and geotechnical studies.
Refining the production schedule to optimise product delivery
for off- take partners.
Designing a processing flowsheet based on metallurgical testwork results to date to produce a gold enriched antimony concentrate.
Northwest Resources Limited | ACN: 107 337 379 | ASX code: NWR | www.nw-resources.com.au
Northwest Resources Limited | ASX RELEASE | 24 JULY 2012
Preparing preliminary capital and operating costs estimates
for a
250,000 tpa conventional gravity/flotation treatment plant on
site based on the process flowsheet.
Finalising detailed plant design and engineering studies and
capital cost estimates for a treatment plant and other site
infrastructure.
Northwest expects shortly to appoint a specialist marketing
agent for the sale of the Company's gold enriched antimony
concentrate production from the Blue Spec Shear Gold-Antimony
Project.
Discussions have commenced with potential Chinese concentrate
off-take partners. Northwest will continue to work with
potential off-take partners to design a concentrate product
that meets their requirements.
Shipping and port options for concentrate transport are being
evaluated and will be finalised following the conclusion of
negotiations with potential off-take partners.
Northwest is currently recruiting for staff for senior technical roles in the Company and aims to have the core senior operating management team in place by year end.
Environmental studies and regulatory permitting
Two year baseline flora and fauna studies over the project
area will be completed this year. No significant
environmental issues have been identified to date. Hydrology
studies are also underway.
Regulatory permitting is expected to be completed in early
2013.
John Merity Managing Director T: 02 9267 7661
E: jmerity@nw-resources.com.au
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