|Navigator Resources - Fast Facts|
|Average Annualised Production:||100,000oz Au|
|JORC Resource:||12.56Mt @ 2.1g/t Au (850,000oz)|
|Trial Production:||7,000oz Au|
|Trial Period:||Q2/3 2010|
|JORC Resource:||12.2Mt @ 1.9g/t Au (750,000oz)|
|Cummins Range (JV)|
|JORC Resource:||71,700t REO|
|Eastman & Laura River (JV)|
|JORC Resource:||27,000t Cu & 10,500t Zn|
|Potential to increase resources at all properties with substantial exploration opportunities.|
Navigator Resources Limited's objective is to build value for shareholders by becoming a highly regarded and profitable gold producer with a pipeline of advanced projects including the Bronzewing and Leonora Gold Projects in the Western Australian goldfields; the Cummins Range Rare Earth Project in the east Kimberley region of Western Australia and the Eastman and Laura River polymetallic deposits, also in the Kimberley.
To achieve this objective, Navigator purchased the Bronzewing Gold Project in late 2009 and recommenced production in April 2010, forecasting average annualised production of up to 100,000oz Au for five years. The exploration database purchased with the mine shows there is great potential to increase the life of the mine by a further five years to 2020.
Supporting Navigator's aim to become a mid-tier gold producer, the Company is also bringing a second gold mine on stream at Leonora. The Leonora Gold Project has a resource of 750,000oz Au and could produce up to 50,000oz Au per annum for at least six years. A trial mining activity occurred between February and June 2010 which progressed development options for the Project. Again there is significant exploration upside at Leonora which could further extend the mine life.
The strategy for our East Kimberley assets is based on low-risk value creation via joint venture and resource establishment. Cummins Range provides exposure to the increasingly interesting rare earth metals market. The Project resource currently contains 71,700t of rare earth oxides, as well as phosphate and uranium oxide by-products; and has potential to be expanded through further exploration. Navigator recently entered a joint venture agreement for the Cummins Range Project with spin-off company Kimberley Rare Earths Limited and planning of 2011 drilling campaigns is underway.
Eastman and Laura River are free-carried joint ventures with Magma Metals Limited that are prospective for a variety of mineralisation types including nickel-copper-platinum, copper-zinc and copper-gold.