Tick Hill produced 511,000oz of gold at 22.5g/t gold between...

Tick Hill produced 511,000oz of gold at 22.5g/t gold between 1991 and 19951 . It was mined to only 235m below surface at an average of 2,184oz of gold per vertical metre, with an average strike length of just 80m (refer Figure 3). It is believed that the Tick Hill orebody was faulted off at depth with the offset extension yet to be discovered. Historical reported metallurgical gold recoveries were 97% with a highly positive mill reconciliation reported against resource estimates.

It is proposed that Mr Peter Bowler will be appointed as Non-Executive Chairman and Mr Rob Watkins appointed as Managing Director, to lead the strategic growth of the Company. Mr Bowler was previously the founding Managing Director of Beadell Resource Ltd from 2007 to 2015 and, prior to that, founding Managing Director of Agincourt Resources Ltd from 2003 to 2007. Under his leadership those companies grew to a peak market capitalisation of approximately A$800M and A$500M respectively.

Mr Watkins is a geologist with over 20 years exploration experience and a proven track record of exploration success. He was previously a founding Executive Director of Beadell Resources Ltd and Exploration Manager of Agincourt Resources Ltd.

The new management team will make a $0.5M investment into the Company through participation in the $1.6M Placement.

Nice announcement to be honest.