JOHANNESBURG (miningweekly.com) – Australia’s Walkabout Resources has negotiated additional joint ventures (JVs) with partner Koza UK, whereby the company could earn into at least 75% in each of the Slieve Gallion and Antrim Metals JVs.
The addition of these earn-in JVs will expand Walkabout’s Northern Ireland exploration footprint to about 1 250 km2.
In terms of the Slieve Gallion JV, which is adjacent to TSX- and Aim-listed Dalradian Resources’ Curraghinalt gold resource, Walkabout will earn in to 50% of the holding company with a minimum expenditure of $500 000 in exploration costs. The company can earn an additional 25% upon publication of a prefeasibility study (PFS).
In terms of the Antrim Metals JV, which was acquired as part of the Northern Ireland exploration assets of platinum miner Lonmin, Walkabout will assume management control of the 50:50 JV and can earn an additional 25% interest by publishing a Joint Ore Resource Committee-compliant resource of 250 000 oz of gold or gold equivalent.
Koza UK will free carry until a PFS for a contemplated mining operation is published.