PERTH (miningweekly.com) – ASX-listed junior Pepinnini Minerals has signed a sale and purchase agreement for its 40% interest in its South Australian uranium and mineral resource joint venture (JV) with China’s Sinosteel Uranium.
Under the agreement inked with Sinosteel, the JV partner would acquire Pepinnini’s interest in the project for A$2.3-million, subject to certain conditions.
Pepinnini’s interest covers five granted tenements over some 3 778 km2, and was estimated to contain numerous prospects which the company had previously said warranted further investigation.
Three priority target areas have been identified within the JV tenements and have been designated as the Mt Victor iron-ore prospect, the Macdonald Corridor iron-ore prospect and the Outalpa iron-ore prospect.