Foster / Jan Nickel & Gold Project, WA

Foster / Jan Nickel and Gold Project, Kambalda, WA

ACH Nickel Pty Ltd (“ACH Nickel”) executed the Option & Joint Venture Agreement with St Ives Gold Mining Company Pty Ltd, a wholly owned subsidiary of internationally renowned gold major Gold Fields Ltd, on 9th October 2014. Under the confidential terms of this agreement, ACH Nickel has the right to earn a majority interest in the Foster & Jan nickel mines located at the St Ives gold operations on the south side of Lake Lefroy in Kambalda, Western Australia.

The focus for ACH Nickel to date has been the permitting and preparation for dewatering of the Foster Nickel Mine which ceased operations in 1996, having produced 2.3 million tonnes of ore at 2.57% Ni for over 61,000 tonnes of nickel metal. ACH Nickel has completed a review of the nickel inventory and the potential for nickel and gold discoveries on the JV leases and prepared a Pre-Feasibility Study for the 85H nickel surface at Foster. Focus has now shifted to reviewing the historical data, diamond drill core and WMC geological interpretations with the objective of estimating mineral resources compiled in accordance with the JORC 2012 Guidelines.

ACH Nickel director Mr Ian Junk has a long history of successful development and operation of nickel mines in both Kambalda and Widgiemooltha. Three other directors of ACH Nickel, Mr Darren Hedley, Dr Tao Li (PhD) and Mr Ed Ainscough, previously held senior operational roles at St Ives gold mine for WMC Resources in the late 1990s, with Darren and Ed continuing on with roles for Gold Fields Ltd in 2002 after its purchase of the mine.

Pictured below are images of the historic Foster Shaft headframe and the ACH team during a site visit after the deal was executed.

The historic Foster Head Frame                             ACH team on site visit at Foster