Ark set to captain ABM's Old Pirate ship

MINNOW Ark Mines has struck a deal to operate ABM Resources’ suspended Old Pirate gold mine in the Tanami Desert for A$2.2 million cash, and an option over the nearby Buccaneer project while it continues to work on developing its Pine Creek project.

Ark set to captain ABM's Old Pirate ship Ark set to captain ABM's Old Pirate ship Ark set to captain ABM's Old Pirate ship Ark set to captain ABM's Old Pirate ship Ark set to captain ABM's Old Pirate ship

Mining at Old Pirate.

Ark managing director Roger Jackson said the junior was striving to become a major Northern Territory gold producer, but while it was working through the steps to build its own plant at Union Extended it believed it could rapidly move into the ranks of the miners by digging in the dirt at Old Pirate.
 
ABM recently decided it was not worth the holding costs to maintain the Old Pirate mining leases without an imminent intention to mine, and it said the potential was on a smaller scale than its exploration options elsewhere in the Tanami.
 
Old Pirate, which is located about 85km from Newmont Mining's Callie mine, requires further intense geological and mining study to be successful, so Ark had emerged as its favoured partner ...