Monax and Mithril team up
PERTH (miningweekly.com) – Juniors Monax Mining and Mithril Resources have struck a farm-in and joint venture agreement under which Monax could earn an 80% interest in the Limestone Well tenements, in Western Australia.
Under the terms of the agreement, Monax will have to spend A$2.5-million over a five-year period to gain the majority share in the tenements, which adjoin the Barrambie titanium/vanadium project, currently held by ASX-listed Neometals.
The tenements are prospective for titanium/vanadium deposits, and have had limited base metals exploration completed over them, and no previous vanadium exploration.
Monax will complete a programme of aircore drilling across the prospective magnetic trends to confirm that the titanium/vanadium mineralisation at Barrambie continues into the Limestone Well project. Once this has been confirmed, reverse circulation drilling will be undertaken to define the extent of this potential mineralisation.
Mithril MD David Hutton said the company was looking forward to the results from the exploration initiative.
“Importantly, the new agreement allows Mithril to remain focused on the Kurnalpi nickel project, where drilling has just finished and assays are awaited, and the new Billy Hills zinc project, where the two tenements have just been granted.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation