Or is it that Simon still believes that Yalgoo holds more than the current MRE, and does not want anyone else lurking around on there?
An announcement when yalgoo was first purchased by FFR back in December 2020.
Firefly further consolidates strategic position at Yalgoowith acquisition of high-grade historical gold mine
Acquisition of City of Melbourne Gold Mine includes a high-grade narrow vein mineral system with grades of up to 108g/t from underground sampling
Key Points:
Strategic acquisition includes existing historical gold producing asset.
Past production of 8,500oz @ 14.7g/t (1937-1941).1
Acquisition - $200,000 cash - 100% ownership - no underlying royalty.
Project located on granted Mining Lease M59/57.
High-grade gold drill intercepts outside the historic mine and surface rock chips demonstrate
potential for high-grade gold at surface and at depth along-strike.
All substantial gold assets in the Yalgoo Goldfield are now 100% Firefly controlled.
Firefly Resources Ltd (ASX: FFR; Firefly or the Company) is pleased to advise that is has further consolidated its position within the Yalgoo Goldfield in Western Australia through the acquisition of the high-grade City of Melbourne Gold Mine situated on granted Mining Lease M59/57, within its 100%- owned Yalgoo Gold Project in Western Australia (see Figure 1).
The City of Melbourne Gold Mine (CoM) began operation in 1937 and produced 8,500oz at an average grade of 14.7g/t over a 4-year period.1 The mine was briefly operated again in 1991 with no recorded production and then lay dormant until mining resumed again in 2015 through to the present.
The historic inferred resource for CoM stands at 40,348t @ 5.90g/t for 6,602 ounces of gold (Historical Estimate).1 Further information on the historic inferred resource is set out at Annexure E below. Investors are cautioned that:
GLTAH
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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2 | 20668 | 2.120 |
6 | 47530 | 2.110 |
5 | 51307 | 2.100 |
4 | 104203 | 2.090 |
2 | 54696 | 2.080 |
Price($) | Vol. | No. |
---|---|---|
2.140 | 99375 | 5 |
2.150 | 21389 | 1 |
2.160 | 62617 | 3 |
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2.180 | 51154 | 3 |
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