Dargues Reef gets nod of approval

Cortona Resources has moved another step closer to production at its Dargues Reef gold project in New South Wales after receiving the final regulatory approval for the modification and use of a processing plant at Parkes.

Managing director Peter van der Borgh said the London Victoria processing plant, which was previously owned by BHP Billiton will be used for off-site processing of gold concentrate. The Parkes Shire Council authorisation follows on from the issue of an Environmental Protection License, as well as the approval of the final three management plans and an operations plan in June.

"This completes a lengthy approvals process and represents a very exciting milestone for the company," he said today.

The Dargues Reef deposit has a resource of 1.615 million tonnes at 6.3 grams of gold to the tonne and is planning to start production at 270,000tpa in 2013 and ramp up to 330,000tpa by 2014.

In early trading Cortona shares were steady at 8.6 cents.

Article by Ron Berryman, Thursday 9 August 2012.

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