Photo by: Bloomberg
PERTH (miningweekly.com) – Shareholders of ASX-listed junior Overland Resources smiled on Wednesday as the company announced that it had been awarded a new five-year mining land use permit for its Yukon base metal project, in Canada.
The project are covers some 305 km2 of the central Selwyn basin, and the permit allowed Overland to continue fieldwork to evaluate its Andrew, Darcy and Darin zinc deposits, which currently host a joint resource of 12.6-million tonnes, grading 5.3% zinc and 0.9% lead, as well as to start exploration for additional resources in the greater project area.
Overland told shareholders that with the renewal of the mining land use permit, the company would immediately mobilise a technical team to undertake first pass geological mapping and soil sampling over several of the regional targets identified at the Junction and Selous project areas.
Focus would also be placed on previously identified targets within structural corridors, where stream geochemical anomalies have been delineated.
Fieldwork would be completed by mid-October.
Overland share prices rose to a high of A$0.025 a share on Wednesday, up from an opening price of A$0.020 a share.