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August 2011

26/08 - Gold rush hits South East NSW

BY MARK SAWA
26 Aug, 2011 09:36 AM

A SLEW of mining operations are on the cusp of exploring tenements in South East NSW as gold fever hits the region.

Queanbeyan is at the centre of activity as companies prepare to dig at Braidwood, Bredbo, Gunning and Dalton.

One prospector has described the surge in activity as Australia’s third gold rush.

Cortona Resources, Waratah Resources, Commissioners Gold and Capital Mining are all planning to extract the precious yellow metal.

Capital Mining chief executive Robert McCauley said things were looking good for his operations.

24/8 - Wildlife fears for Majors Creek mine

BY JOHN THISTLETON, BUSINESS EDITOR
24 Aug, 2011 04:00 AM

The commission assessing the proposed Dargues Reef gold mine at Majors Creek considered owl calls, tadpoles, frogs and little fish yesterday.

More than 40 presentations from traditional land owners, shire councils, miners, farmers and residents were made before the Planning Assessment Commission in Braidwood.

17/8 - Agreement to Process Dargues Reef Gold Concentrate

ASX/Media Release - 17th August 2011
Agreement to Process Dargues Reef Gold Concentrate

Cortona to retain full control to maximise efficiency and recovery benefits.

Highlights

  • Cortona has secured a processing plant for the Dargues Reef gold concentrate
  • License Agreement covers current mine reserve with option to extend
  • Facility located near Parkes, NSW, with a shorter transport distance than budgeted by Cortona in its Feasibility Study
  • Processing circuit being optimized for high recoveries

Local History: Majors Creek

08/08 - Mandate for Bank Financing of Dargues Reef Development

Cortona Resources Limited (“Cortona”) is pleased to announce that it has
mandated Deutsche Bank AG (“Deutsche”) to provide a financing package
(“Financing Package”) of up to A$37 Million for the development of the
Dargues Reef Gold Project at Majors Creek in New South Wales.

Cortona received a number of indicative financing offers reflecting the robust
nature of the Dargues Reef deposit and its excellent financial potential. At
the current spot price of A$1,550/oz, Dargues Reef is forecast to deliver free

Dargues Reef Gold Project (10_0054)

The development of underground gold mining and processing operations. The proposed mine would produce up to 354,000 tonnes of ore a year for a period of up to 5 years. This ore would be transported from the mine by truck. See attached Environmental Assessment for further details) .

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