EDITOR: | March 13th, 2013

Arafura Resources: Ark proceeds with Mining Farm in and Joint Venture

| March 13, 2013 | No Comments
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Arafura-ResourcesMarch 13, 2012 (Source: Arafura Resources) — Ark Proceeds with ‘Mining, Farm-in and Joint Venture’ of advanced Gold project and Mineable Gold Resource

Sydney, 13 March 2013: Ark Mines Ltd (ASX:AHK) is pleased to announce that it has completed its Due Diligence on the Mt Porter Mine and the Frances Creek Gold Project and related tenements with Arafura Resources Limited (ASX:ARU) (Arafura) to Mine, Farm in and Joint Venture gold projects in the Northern Territory’s highly prospective Pine Creek region.

THE DEAL CONSISTS OF 2 COMPONENTS

1 The right to Mine Mt Porter for a 5% royalty

  • A resource of 34,200 oz Au comprising 355,000t @ 3.0 g/t Au (Mt. Porter Resource)
  • Resource expandable, with well defined targets
  • Shallow and conducive to open cut mining
  • Located near Pine Creek, and proximal to working gold mills
  • Environmental approval issued by the Northern Territory and Australian Governments (2007)
  • Agreement with the Northern Land Council for mining operations (2004)
  • Granted Mining Lease (ML 23839)
  • Cash Positive Mining Case

2 Farm in of the Frances Creek Advanced Gold Project

  • Advanced gold project
  • Exposed and traced on Surface
  • Considerable Strike.
  • Significant drilling completed
  • Resource Drilling to commence immediately

Click here to see the full release.


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