JOHANNESBURG (miningweekly.com) – ASX-listed Hampton Hill Mining will provide a further A$500 000 in exploration funding for the Millennium zinc project, in Western Australia, as part of the second earn-in phase of an earlier agreement with Encounter Resources.
The companies in April agreed that Hampton could acquire up to a 25% stake in the project by contributing to exploration expenditure.
Hampton had earned a 10% interest in the project in the first earn-in phase of the deal, which saw it provide an initial A$500 000 in expenditure.
The company noted in a statement on Wednesday that the results of the first four drill holes under the current exploration programme had demonstrated that the project had “particular promise”.