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Primary Gold completes acquisition of Coolgardie gold project

Primary Gold Ltd. has completed the previously announced A$10 million acquisition of the Coolgardie gold project in Western Australia from MacPhersons Resources Ltd.

According to an Oct. 10 statement, MacPhersons considered the project a noncore asset, and it plans to focus on its Nimbus silver-gold-zinc project in Western Australia.

Primary is now working to finalize the drilling program at Coolgardie, announced under a September agreement with Ausdrill Ltd.

The company noted that it is also planning a potential trial mining operation in early 2017 as a precursor to commercial production.

The project hosts existing resources of 3.81 million tonnes at 1.63 g/t of gold for 200,600 contained ounces.