StockMarketWire.com - Keras Resources has secured an additional deposit under the existing tribute agreement from Paddington Gold Pty Ltd, a subsidiary of Norton Gold Fields to mine the Royal Standard North lease area.

The Royal Standard North lease area is located in the of the Mount Pleasant region approximately 20km south of the Grants Patch lease area where the Company is currently undertaking mining in the Western Australian gold fields.

Ore from Royal Standard will also be processed at Norton's nearby Paddington processing plant.

The preliminary confirmatory drill programme, which was undertaken in May, indicates economic grades and grade continuity.

Keras managing director Dave Reeves said: "The additional deposit added to the existing tribute agreement with Norton is located close to our existing operations and highlights the mutual benefits of the tribute agreement. Due to its location, existing permits and size, we intend to complete the mining of this deposit in the near-term, subject to satisfactory grade control drill results and final approval of the Project Management Plan by the Department of Mines. Following the commencement of ore mining in April and the receipt of first payment, this is an exciting time for Keras. I look forward to providing further updates on our progress as we focus on building a sustainable cash flow generative gold miner with a growing inventory of low cost deposits."




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