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Tuesday, 5th February 2008 (4493 views)

Drake Gold Resources has announced a new joint venture deal with Aero Mining Technologies that will secure vital new mining equipment for its project in Georgia.

Under the deal, Aero will use Drake to showcase its products and secure financing, while Drake will get the equipment it needs to bring its Georgia mining project closer to production.

This includes the Explorer 500, a $300,000 (£150,000) piece of plant equipment that uses wash and portable gravity separation to recover 100 per cent of gold above a selected size from ore feeds.

The unit, which will process 50 tonnes an hour at Drake's project, uses no chemicals and its water can be safely recycled.

Drake Gold Resources president John Marconette said the deal had secured the main component needed for gold recovery in Georgia.

"Forming an alliance with such a well-established mining equipment company like Aero Mining Technologies will give Drake a big boost forward - advancing its business model on all fronts," he said.

In November 2007, two independent geologists' reports said Drake had discovered a "considerable gold deposit" in Georgia.

 

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