We received some questions from readers about the acquisition of the Leonora Project by Global Metals Exploration (ASX:GXN). We got in touch with the company, and they promised to release a report on Leonora to explain the company’s view on the acquisition and further exploration potential in the near future.
Andrew Mortimer: ‘Firstly, we believe that the Leonora gold and base metal assets can support an initial gold JORC resource between 30-40K ounces. Secondly, the gold prospect known as the Crawford prospect is on a granted mining license and very close to the town of Leonora. As such, the potential gold resource has already got a mining license covering it and good access to logistics. Thirdly, there is an exploration license attached to the project which Global Metals believes has significant base metals potential however, further work needs to be done before this can be verified. GXN will be bringing out a report updating the market soon on the Messina transaction and what the company’s view of the project is.’
Disclosure: Global Metals Exploration NL is a sponsoring company. Please see our disclaimer for current positions.