Rio opts out of Vulcan exploration
PERTH (miningweekly.com) – Junior Tasman Resources on Monday reported that the exploration arm of diversified miner Rio Tinto had withdrawn from a farm-in agreement over Vulcan copper/gold/uranium project, in South Australia.
The farm-in between Tasman and Rio Tinto Exploration started in 2012, and provided the junior with a significant cash injection to advance the Vulcan project and identify a number of new high-priority targets for follow-up.
However, drilling has so far not intersected thick and medium- to high-grade mineralisation.
Tasman told shareholders on Monday that despite these results, the company believed that there were a number of very positive outcomes from the drilling completed to date, pointing out that only 17 holes have been drilled within the 12 km2 Vulcan target zone.
Significant parts of the Vulcan target also remained completely unexplored and have the potential to host mineralisation, the company added.
With Rio Tinto Exploration’s withdrawal from the farm-in, Tasman would look to advance exploration at Vulcan either through a new joint venture agreement, or on a sole-funded basis.
A decision on which alternative would be adopted would likely be made over the coming months, the company said.
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