MORE than 10 landowners throughout the Lucknow area have already signed access agreements allowing Orange-based exploration company Lucknow Gold to undergo preliminary exploration on their properties.
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Lucknow Gold’s managing director Tully Richards said that any exploration work and any future mining in and around Lucknow, Spring Hill and areas along the Mitchell Highway would not detract from the picturesque look of the area and may in fact contribute to its beautification.
“We will improve the vista without detracting from the area’s mining history,” said Mr Richards.
“At the moment Lucknow has degenerated in to a patchwork and we want more for that village, however we still want to celebrate its mining history.
“We feel we have a social responsibly in relation to the community.”
According to Mr Richards the mine’s exploration period would take more than two years to complete, however if great quantities of gold were located in the area, the company would then be required to submit an application to the NSW Government to allow them to extract the gold.
Mr Richards said that if the explorative work proves fruitful and the company is given a licences to mine the area, the process would be some four or five years down the track.
Mr Richards acknowledged that the rollout of Lucknow Gold was at a “sensitive stage” and good communication between the company and local residents was imperative particularly as the company plans to float 37.5 million shares on the ASX in order to raise the $7.5 million revenue required to carry out the exploration works.
“In this current market we really need to ensure we have good local support,” said Mr Richards.
According to Mr Richards the company is not interested in working the old mines and any future mines would operate below ground.
He also has a strategy to source water from outside Orange’s water supply, potentially utilising mine water.
Lucknow Gold executive chairman Brian Locke laid claim to the 48 square kilometres area of land in question in 2005.
According to Mr Locke, Lucknow Gold is one of many companies which have claims on the land around Lucknow and Orange.
“I think that close to 100 per cent of the land around Orange has been pegged and subject to similar exploration activity by other companies” said Mr Locke
The company’s future plans are outlined in its prospectus which is available on line at: www.lucknowgold.com.
