During Q3 FY11 Kagara Ltd reached agreement with Monto Minerals to form a strategic partnership whereby Kagara Ltd could explore the Monto tenements at Herberton for all metals excluding tin and assess the potential to process tin ore at the Mt Garnet processing plant. In addition, Kagara Ltd intends to mine and process the Baal Gammon deposit.
The Baal Gammon deposit contains an Indicated and Inferred Resource of 5.5 million tonnes grading 0.8% Copper, 29g/t Silver, 29g/t Indium and 0.2% Tin containing 41,600 tonnes of copper metal.
Kagara Ltd intends to mine approximately 500,000 tonnes of higher grade material and process this through the Mt Garnet copper concentrator. Subject to regulatory approvals, the Project is expected to commence in Q2 FY12.
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