Northwest to advance planning for development of Blue Spec

As a result of the continuing success of Northwest’s extensional diamond....

  As a result of the continuing success of Northwest’s extensional diamond drilling program together with the identification of several areas of additional high-grade resource potential, Northwest has decided to take immediate steps to advance its planning for the development of the Blue Spec deposit.The Blue Spec deposit is the most advanced resource within the Northwest’s Blue Spec Shear gold project and has the potential to develop into one of the higher-grade underground gold mines in Australia.Pre-feasibility studies, together with a resource to reserve conversion drilling program will commence in January 2008 and preparations for the commencement of this work will begin immediately.It is anticipated the studies will initially involve detailed project planning aimed at outlining all lead-time licence to operate items that require early attention (for example, regulatory approvals and the consultation process. The proposed pre-feasibility studies will be undertaken in combination with a stage 3 resource drilling program aimed at up-grading the existing JORC compliant resource (320 - 470m vertical) to a measured resource.Northwest is moving to identify a well-credentialed technical team of consultants to undertake various aspects of this work during 2008, including a lead consultant with specialised high-grade underground mining experience.The decision to take immediate steps to plan for the development of the Blue Spec deposit marks an important milestone for Northwest in its aggressive drive towards joining the ranks of Australian gold producers.