THE BOURSE WHISPERER: Ord River Resources (ASX: ORD) has commenced a Definitive Feasibility Study on the Trident deposit in the Plutonic Dome gold project.
The Plutonic Dome gold project is a Farm In/Joint Venture with Dampier Gold (ASX: DAU).
The Trident deposit is located 30 kilometres from Northern Star’s (ASX: NST) Plutonic gold mine and approximately 210km northeast of Meekatharra in Western Australia.
Project location plan. Source: Company announcement
Ord River currently is earning up to a 75 per cent interest in the Plutonic Dome gold project through spending a minimum of $6 million across the project prior to January 2016.
The company said the study will be focussed towards the assessment of the economic viability of underground mining at the Trident deposit.
“With the recent successful completion of the DFS at K2 deposit, Ord is seeking to determine the viability of the second phase of its growth strategy for the broader Plutonic Dome gold project,” Ord River Resources managing director Frank Zhu said in the company’s announcement to the Australian Securities Exchange.
“This exciting process has the potential of generating a long life, substantial project through the sequential development of K2 and Trident respectively.”