Ausgold and Great Boulder form JV
PERTH (miningweekly.com) – Juniors Great Boulder Resources and Ausgold have inked a joint venture (JV) agreement over the Winchester nickel/copper project, in Western Australia.
Under the terms of the agreement, Great Boulder could earn up to a 75% interest in the project by spending A$500 000 over a four-year period.
Ausgold will also be issued with 1.5-million Great Boulder shares, which will be under a staged voluntary escrow period of three to nine months.
Great Boulder MD Stefan Murphy said on Wednesday that the Winchester project could play an important role in the company’s strategy to establish a substantial copper/nickel/cobalt operation.
“The Winchester project represents part of a large igneous province with magmatic sulphide mineralisation now identified over a vast area. Only a very small area has been drill tested at Winchester and the presence of high-grade copper and nickel mineralisation, confirmed through petrography, is extremely promising.”
Murphy said that combining the Winchester with Great Boulder’s Mt Venn and Eastern Mafic deposits, some 40 km away, was an important step in consolidating copper/nickel/cobalt operations in the Yamarna region.
Ausgold MD Matthew Greentree told shareholders that the JV agreement ensured that the Winchester project was advanced by a focused nickel/copper exploration programme over the next two years.
“The JV is structured so Ausgold retains a 25% free-carried interest through to a decision to mine, allowing Ausgold to focus its funds on its 100%-owned Katanning gold project, where the company continues to have exploration success, and is progressing towards a mine development of the 1.04-million-ounce gold resource.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
