Friday, 14th March 2008 (1684 views)

ATW Venture has agreed a deal to acquire 100 per cent control of the Gullewa gold and copper project in the West Yilgarn goldfields of Western Australia, the company has confirmed.

The project, which is 300 kilometres south-west of ATW's Burnakura gold mine, comprises 746 square kilometres mineral tenements that cover what could be the southern and central sections of the Gullewa greenstone belt.

It includes the Gullewa mining centre, the Deflector deposit, the Prince George mine and the Michelangelo and Monarch prospects.

Mining infrastructure already in place at the prospect includes a carbon-in-leach processing plant capable of handling gold production of up to 300,000 tonnes a year, a licensed tailings disposal centre, a camp for 50 people, offices, workshops, bore fields and service roads.

The deal for the project is subject to approval by the Canadian stock exchange and the preparation of an NI 43-101 compliant geological report. It must also be given the green light by the shareholders of the company selling the site, Batavia.

In addition to its operations in Australia, ATW is also developing the Amarillo gold project in San Juan, Argentina.

 

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