Monday, 20th June 2005 (2820 views)

Terra Gold Mining has announced that its acquisition of the Maud Creek Gold Project in Australia has been finalised.

In accordance with the previously announced option agreement with Harmony Gold Operations, Terra Gold exercised its option to acquire the Project on May 4th.

The companies settled last Fridat for a payment of Aus $2.6 million by Terra Gold, following the announcement last week that ministerial consent for the acquisition had been given.

Terra Gold now holds a 100 per cent interest in the Maud Creek gold deposit and tenements, which are located in the Northern Territory.

Progress is good on the current feasibility study on the Maud Creek Project, with activities in mining studies and design, assessment of treatment processes, metallurgical test work and exploration planning all progressing well.

 

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