ORD River Resources (ASX:ORD) has applied for two new gold exploration licences in the prolific Tanami Gold region in the Northern Territory.
The two exploration licences spread over 1,490 square kilometres west of its existing Suplejack project will consolidate ORD's position in the northern Tanami region, making it the largest tenement holder in the core of the northern Tanami.
Once the licences are granted, expected in 2014, it will have a combined continuous footprint of over 1,800 square kilometres. Suplejack has a JORC resource of 101,300 ounces of gold.
The move to acquire two new licences dovetails with the company's strategy to develop and expand its gold resources in the northern Tanami and supports its 3 year Tregony Mine development plan.
The Tanami is a proven gold region, having produced over 3 million ounces of gold, and has an established gold resource of around 6.4 million ounces being developed by ABM Resources, Tanami Gold and ORD River.
It also has 2 million ounces of gold being developed by Newmont.
ORD River's plans for next year include extensive drilling at Tregony and other prospects and potentially upgrading resource, with a mine licence and feasibility done in 2015 and construction and cash flow in 2016.
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