*Cervantes agreed to the sale of the Albury Heath Project to Big Bell Gold Operations Pty Ltd (BBGO), a wholly owned subsidiary of Westgold Resources Limited (WGX), as released 23rd April 2020.
On the 10th October 2016 Cervantes announced it had acquired a Prospecting Licence (“PL”) (known as the Albury Heath Gold Mine) to add to its current Exploration Licence (“EL”) located in the Meekatharra area. In addition Cervantes applied for several other prospecting licences in the immediate area.
After a review of historical data associated with the Albury Heath Gold Mine, Cervantes announced on the 8th December 2016 an opportunity to develop the high-grade Albury Heath Gold Mine and fast-track production by either heap leach or toll treating. Whilst Cervantes will continue to plan and progress the exploration of the two above strategically located projects, it continues to search for a more advanced project, preferably but not essentially in Australia, in Gold and/or metals and minerals with the right market demand and the correct risk to reward ratios.