WPG Resources
(ASX:WPG) announced today that it will fast track development of a gold project it acquired just two months ago, with the objective of commencing operations late next year.
The Company said that a review of data since the acquisition had confirmed that its 100% owned Tarcoola gold project in the Gawler Craton of South Australia could be successfully developed into a mining operation producing approximately 20,000oz of gold per year.
Mining would be a conventional open pit operation with associated heap leach processing. Initial mine life would be four to five years.
The announcement comes less than three years since WPG sold its South Australian iron ore project, Peculiar Knob, for $320 million with strong returns to shareholders.
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