|Interest||1.5% NSR Royalty (first 10,000oz Au) converting to a 5.25% stream on gold|
|Location||Western Australia, Australia|
|Counterparty||BK Gold Mines Ltd|
- The British King Mine is located approximately 320km north of Kalgoorlie in Western Australia. The project is well serviced with roads and utility infrastructure due to its proximity to the towns of Leinster and Leonora as well as the nearby Darlot Gold Mine (RED5 Ltd) located only 8km away by road.
- British King is a classic example of a Western Australian ‘Orogenic Gold’ deposit. The mineralization is an East-West oriented quartz vein reef hosted within mafic and felsic volcanics within the Norseman Wiluna greenstone belt. Drilling has shown that the orebody extends the entire span of the project tenement and depths well beyond those historically accessed.
- The project area has a solid mining pedigree with intermittent production for more than 100 years. Historically, mining was conducted through underground development feeding a number of small shafts.
- The project was acquired by BKGM in 2014 with a view to re-establishing underground mining. Under previous management the mine was dewatered, Central Shaft rehabilitated and the main development drive at 75 metre level was refurbished and extended east and west at a cost of $6.0m. This was followed by trial mining in 2016-2017 which produced 5,000t @ 5.2g/t from development drives and 600t of stoping ore at 16g/t at 75m level delivered to Darlot mill.
- The mine is now under care and maintenance. The strategy is to grow the present gold resource by extensional and deeper drilling to feed into a new optimisation study and development of a new mine plan.
- Further information can be found at this website: http://www.bkgm.com.au/project/