Resource News
FerrAus to spin-off Lawson gold project
By resourceINTEL · March 16, 2010 · 11:46 pm · Leave a Comment
IRON ore explorer FerrAus will spin-off its Lawson Gold project to focus on core operations.
The company said the Silver Swan North project at Lawson, in Western Australia, comprised four mining licences and an exploration licence located about 45km north east of Kalgoorlie.
The new subsidiary would be called Lawson Gold, which FerrAus said it intends to float on the Australian stock exchange.
“Although previous exploration efforts at the project have focussed predominantly on nickel, the directors of FerrAus consider that these tenements are prospective for gold mineralisation of the style found at Kanowna Belle,” the company said.
The company said spinning off the project would allow it to focus on its core Pilbara project in WA, where it hopes to make the jump from explorer to producer.
Earlier, a scoping study was positive about the outcome of that project, finding it could eventually produce 15 million tonnes per annum of iron ore…read more at The Australian
