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Wednesday, 30th August 2006 (3559 views)

Mining firm Icon Resources has applied for a licence to look into the prospect of mining three locations in north-western Australia, the Northern Daily Leader reports.

The three sites, located along the Peel fault, were the site of a gold rush in the early 1900s but have since remained relatively untouched.

Icon is confident that some discoveries can be made in the area and the company's managing director, John Bishop, said that if its licence application was successful it would invest between A$100,000 and A$200,000 to determine the area's potential.

"We're pretty confident that by using modern exploration tools we will be able to source the gold, or at least nickel and/or platinum group elements from this area," Mr Bishop told the newspaper.

He described this sort of exploration and mining project as "a one in 100 chance" but added that his company was willing to pursue the opportunities that could be offered by the Peel fault sites.

The areas that are subject to the most recent licence applications are a 140 square mile area near Warialda; 160 square miles between Manilla and Dunmore; and a 180 square mile region at Black Mountain, near Barraba.

 

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