Cobar Receives Approval for Silver Project in Australia

26 May 2011 (Last Updated May 26th, 2011 18:30)

Cobar Consolidated Resources has received development approval from the Western Region Joint Regional Planning Panel for the Wonawinta Silver project in New South Wales, Australia. The firm lodged the development application and environmental impact statement in December 2010. <

Cobar Consolidated Resources has received development approval from the Western Region Joint Regional Planning Panel for the Wonawinta Silver project in New South Wales, Australia.

The firm lodged the development application and environmental impact statement in December 2010.

With receipt of the development approval, the firm is planning to move forward with application for a mining lease and approval of a mine operations plan.

The Wonawinta project has an indicated and inferred resource of 51Moz of silver including a probable ore reserve of 14Moz of silver.

Cobar Consolidated expects to become a global scale silver producer at Wonawinta with production forecast at 2.5Moz silver per annum, commencing in December 2011.