https://www.miningweekly.com

Mithril signs on for Nanadie exploration

6th December 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior explorer Mithril Resources has signed a farm-in and joint venture (JV) agreement with fellow-listed Intermin Resources over the Nanadie Well copper/gold project, in Western Australia.

Under the terms of the JV, Mithril could earn an initial 60% interest in the project by spending A$2-million over the next four years. The company could earn another 15% by completing a further A$2-million in spending over the subsequent two years.

A minimum expenditure of A$250 000 was required in the first year of the JV, while a minimum yearly expenditure of A$250 000 would also be required under the first earn-in, increasing to A$400 000 while earning the further 15% interest.

The Nanadie Well project is estimated to host 36-million tonnes of ore, grading 0.42% copper for an estimated 151 506 t of contained copper.

Mithril MD David Hutton said that the JV agreement was consistent with the company’s new strategy of acquiring and exploring advanced base metal assets.

“Mithril has an excellent technical team and I look forward to their work quickly adding value to the Nanadie Well project for the benefit of our shareholders.”

Diamond drilling, which has never been undertaken at Nanadie Well, would be a priority for Mithril in order to underpin the development of a new geological model and the identification of high-grade targets for the deposit and the surrounding areas.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.272 0.322s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: