CARBINE RESOURCES LIMITED - ASX: CRB

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Carbine Resources is an Australian public company based in Perth, Western Australia. The strategic objective of the Company is the advancement of shareholder's interests through exploration and evaluation of its current projects and acquisition of additional projects on favourable terms. The Company also intends to seek out further acquisitions that have the potential to underpin its growth strategy.

Madougou Project

The Madougou Project covers an area of 465sq km over two separate permits, namely Kandy to the southwest and Madougou to the northeast. Carbine entered into a JV agreement with Ampella Mining over the Project in December 2009. The Project area is accessed from the capital city of Burkina Faso, Ouagadougou by 180km of paved highway to the nearby city of Ouahigouya and thereafter by 30km of unsealed all-weather roads.

West Kalgoorlie Joint Venture (retained Gold Production Royalty interest)

Carbine Resources retains a royalty interest in specificed tenements that were part of a previously negotiated Farm-in and Joint Venture Agreement with Cazaly Resources Limited (ACN 101 049 334) known as the West Kalgoorlie JV. The Agreement was entered into in May 2007 and terminated through mutual agreement in October 2008. The royalty is for AUD$40 per ouce of gold production for the first 75,000 ounces followed by a one-off cash payment of $3,000,000 when combined gold production from the tenements reaches 140,000 ounces.

Red Dam Gold Project (100% Carbine)

The Red Dam Project is located in Archaean greenstone 45km northwest of Kalgoorlie in Western Australia within the well mineralised old gold mining Carbine region. The region was first prospected during the gold rush of the 1890s resulting in significant production from the old mining centres of Carbine, Ora Banda, Grants Patch, Broads Dam, Blue Funnel, Zuleika, and many more. Considerable work in the 1980s gold boom located new mines, with many companies redeveloping old mining centres. The northwest trending structural corridor containing Red Dam, the Carbine -Telegraph Shear Zone, has current gold resources exceeding 5 Moz including Kundana, White Foil, Frogs Legs, Mungari East and Carbine.

Mine For

gold

Location of operation(s)

Western Australia, Burkina Faso

Address

Suite 23 513 Hay Street
SUBIACO, WA, AUSTRALIA

Phone

(08) 9226 0900

Email

Website

http://www.carbineresources.com.au

Last Updated

15/04/2011