| Project | Spring Hill Joint Venture |
|---|---|
| Location | Pine Creek, NT |
| Commodity | gold |
| Ownership | Joint venture with Thor Mining PLC |
| Current status | Brownfields exploration |
Fast facts
Spring Hill July 2010
Spring Hill July 2010
Spring Hill Joint Venture
Spring Hill is on the site of an historical gold mine in the Pine Creek Goldfield, 150 kilometres south of Darwin. The tenement package comprises an 1100 hectare Mining Lease Application surrounded by the 36 square kilometre Exploration Licence.
In 2003, the JORC compliant resource was calculated as 3.6 Mt at 2.34 g/t containing 274,000 ounces of gold.
Thor Mining PLC reached agreement with Western Desert in 2011 to acquire a 25% interest in Spring Hill, along with rights to increase that interest to 80% of the joint venture project, subject to Thor meeting exploration expenditure targets and the issue of new shares to Western Desert Resources..
Thor Mining started a 10-hole drilling program in September 2011 designed to confirm and extend the existing known mineralisation.
Spring Hill was discovered in 1880 and produced about 20,000 ounces of high grade gold over the next 25 years. It is near the Union Reefs processing plant.
