Northwest Resources (ASX: NWR) and Millennium Minerals (ASX: MOY) have carved an initial ore Reserve of 48,300 ounces of gold grading 1.40 g/t Au at the 50/50 Camel Creek joint venture in north-east Western Australia.
The project contains four shallow open pit gold deposits with a total JORC resource of 105,000 ounces of gold (2.67Mt at 1.23g/t Au).
Ore from Camel Creek will be mined and processed by Millennium through its Golden Eagle treatment plant and with Northwest Resources will share equally the joint venture mining, processing and rehabilitation costs.
Costs will be shared equally for mining, processing and rehabilitation costs of Camel Creek and the othre three deposits.
Millennium is the manager of the joint venture.
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