Published: July 1, 2016 |

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Metaliko Resources Ltd is set to monetize its Bronzewing Milling Facility in Western Australia after inking a deal with a third party to lease the facility for up to three years.

Bronzewing Mill is part of the Yandal Project in the North Eastern Goldfields of Western Australia, which was acquired by Metaliko in 2014.

The undisclosed lessee has large tenement holdings within haulage distance of the Bronzewing Mill where reportedly significant gold resources have been defined.

The recommissioning and processing costs will be met by the lessee and Metaliko will be paid an agreed dollar-per-tonne lease fee for ore processed through the mill.

This is a significant milestone for Metaliko whereby the Bronzewing Mill will become operational at minimal cost to the company.

Moreover, Metaliko will retain the right to process its own or additional third party ore through the mill on a campaign basis should spare capacity be available.

The Yandal tenements have produced over 3.5 million ounces of gold from a number of deposits with processing at the Bronzewing plant during the period 1988 to 2013.

Metaliko’s Yandal development strategy is to define new ‘Brownfields’ resources with conservative resource parameters to ensure that ore of commercially realistic grades is processed at Bronzewing.

The company is initially targeting the definition of 3 to 5 million tonnes of open pitable resources on which to commence feasibility studies into mining.

Source: (June 30, 2016) Proactive Investors

About Metaliko Resources
Metaliko Resources Ltd is focused on advanced gold exploration projects with identified gold mineralization and the potential for further significant discoveries. Metaliko’s project portfolio is located in the Eastern Goldfields of Western Australia.

To stop by Metaliko’s website, CLICK HERE

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