JOHANNESBURG (miningweekly.com) – Exploration firm Pepinnini Minerals has agreed to sell its Gooligoomba mining lease and to surrender the Gilbert tenement, in Queensland, to focus its exploration efforts on other projects.
The ASX-listed company reported on Wednesday that it had agreed to sell mining lease 2720 in north Queensland for the purchase consideration of $40 000. The lease covers 0.83 km2 near Woolgar, inland from Townsville.
It would also surrender project tenement EPM 15469, covering 13 km2.
The sale of the mining lease and the tenement surrender would allow Pepinnini to concentrate its exploration efforts on key projects in the Musgrave province of South Australia and Western Australia and to progress its Argentina project.
In the Musgrave province, Pepinnini is targeting nickel/copper sulphide mineralisation and base metal mineralisation. It has an interest in three granted exploration licence and four exploration licence applications, covering 8 223 km2.
In Argentina, Pepinnini is targeting copper/gold/silver in Salta’s Puna region, adjacent to the Chile border. The company has tenements covering about 300 km2.