West Australian-based Vector Resources Limited has accomplished a significant administrative breakthrough by receiving approval from the Department of Mines and Petroleum to secure a mining lease at Gwendolyn. Previously, a prospecting license, P77/3976 was granted at the Gwendolyn East property.
In December 2011,the Company had filed an application to the Australian Department of Mines and Petroleum to change the P77/3976 to a mining lease M77/1263. The lease also extends to an airstrip and the surrounding buffer area of 100m, all of which was previously out of bounds. The approval for conversion is touted to be significant for paving the way for future mining proposals.
The current phase of drilling adopted by the Company has established the expansion potential of the already identified mineralization. The approval makes provision for the next phase of drilling to carry out reverse circulation and the use a diamond core drill across a grid of 20m by 25m to facilitate the assessment of extensional potential of the known mineralization.
The Company has employed the services of a consultant, Niche Environmental Services, in order to conduct a two-fold environmental survey of the Gwendolyn property. The first survey which comprised an autumn flora survey was encouraging as it established that the flora did not have a high ecological value and therefore preservation of the vegetation in the area under consideration would not be of high priority. The flora survey for spring and the fauna survey are scheduled to take place in September 2012. Successful completion of the surveys will facilitate the Company to apply for mining proposal.
Source: http://www.vectorresources.com.au
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