Straits picks up Hillgrove mine

STRAITS Resources has bought the Hillgrove gold mine near Armidale in New South Wales for $8 million and will spend the next eight to 12 months establishing a 500,000 ounce gold reserve before developing a 100,000oz per annum operation that is not expected to cost more than $15 million.

Straits picks up Hillgrove mine Straits picks up Hillgrove mine Straits picks up Hillgrove mine Straits picks up Hillgrove mine Straits picks up Hillgrove mine

Hillgrove has inferred resources of 344,000oz of gold and 29,000t of antimony, and historical production in excess of 720,000oz of gold and more than 50,000t of antinomy.

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