Gold project 'ready to go'23rd July 2009, 9:00 WSTThe Goldfields...

Gold project 'ready to go'
23rd July 2009, 9:00 WST

The Goldfields economy is expected to ride on the coat tails of the new gold project at
Kookynie, about 200km north of Kalgoorlie-Boulder.

Nex Metals Exploration is in the process of grade control drilling a previously defined laterite immediately north of the Orient Well pit after acquiring 100 per cent of the
Kookynie Gold Project from FMR Investments last month.
About 30 to 50 jobs will be created during the preliminary phase of operations, increasing to 70 to 100 long-term jobs over a projected mine life of 10 years, based on
known resources and the current gold price. Nex technical director Edd Prumm said the company had pounced on a project which had all the workings of a successful operation. The area is a large tenement holding with six different gold producing project areas. The purchase saw Nex gaining total ownership of the project's 44 tenements in return for the issue of 7.8 million shares (tradeable after six months) and payment of $150,000 on settlement and assumption of the standard environmental bonds. "In these testing financial times we required a project that was ready to go with plenty of data and enough favourable under explored tenement area to enable additional discoveries in the future," Mr Prumm said.