Mercator Gold joined a select club today - the gold producers club on AIM. Mercator stated that first gold pour had occurred at its Meekatharra Gold Operations in Australia, cumulating over 2 years of resource definition and refurbishment programs to bring the operation back into production after being shut down several years ago.
The company also detailed its plans for the Euro Project, a new east-west trending gold mineralisation that has created significant interest from commentators. The Euro Project has sparked interest as the gold is trending in against all other known occurrences at Meekatharra which are north-south. Mercator said it intended to conduct a diamond, reverse circulation and rotary air blast drilling program to better understand the geology, confirm the company's own interpretation and define an initial JORC compliant resource.
Mercator's Managing Director, Mr Patrick Harford, said:
"After several years rebuilding the asset base at Meekatharra, Mercator is ready to put the district 'back to work'. We wish to thank our shareholders for their support and assure them that we will do our best to ensure that Mercator's operations form a profitable and sustainable base on which the Company can continue to grow. Our exploration potential is high both at the new greenfields Euro Project and in all directions around the Prohibition-Vivian-Consols ore bodies at Paddy's Flat and we look to the future with confidence and excitement."
Shares in Mercator were marked up 2 pence to 88.5 pence on the good news.