Photo by: Bloomberg
PERTH (miningweekly.com) – ASX-listed explorers Trafford Resources and Monax Resources have welcomed the passing of the Defence Legislation Amendment Bill, which would allow for access to the Woomera Prohibited Area (WPA), in South Australia.
At the end of last week, the federal Parliament passed the Bill, which was expected to unlock a potential mineral resource of some A$35-billion.
Trafford told its shareholders on Monday that the company was ideally placed to benefit from the new legislation, since it controls over 7 000 km2 of exploration licence within the Woomera area.
Monax had also been one of the first movers on the area, establishing its Millers Creek project as a designated project (DP) in November last year. The Millers Creek DP would comprise three tenements owned by Monax subsidiary Monax Alliance, as well as the four tenements held by ASX-listed Maximus Resources.
A heli-borne magnetic survey was recently completed at Millers Creek, and modelling of the magnetic and detailed gravity data had outlined iron-ore/copper/gold targets.
Drill testing of these targets was now planed for late August or early September.