Kathleen Valley Gold Exploration Project – Ramelius 100% (and Gold Rights)
Location and Access:
The Kathleen Valley gold project is located 50km north of the Leinster township in WA and is accessed via the sealed Goldfields Highway leading north from Leinster.
Ramelius successfully completed open pit mining at Kathleen Valley late in the September Quarter 2016. The Company has mined 476,269 tonnes of ore for approximately 64,000oz of gold from the Mossbecker, Yellow Aster and Nil Desperandum open pits. The high grade open pit ore was processed at the Company’s Checker Treatment Plant at Mount Magnet.
A Tenement Sale Agreement was signed with Liontown Resources Limited (ASX: LTR) during the September Quarter 2016 for Liontown to acquire the Kathleen Valley Project tenements, including 100% of the rare metal rights (lithium, tantalum and associated metals). Under the terms of the Tenement Sale Agreement Ramelius retains 100% of the gold rights to the Lithium tenement package and will continue to explore for deeper gold exploration targets within the project. Ramelius exercised its pre-emptive right and reacquired the southern gold tenements from Liontown, after Liontown downgraded their rare metal potential, as depicted in the figure below.