https://www.miningweekly.com

Castillo joins forces with A-Cap

25th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Juniors Castillo Copper and A-Cap Resources will joint venture (JV) to explore the Malborough nickel/cobalt project, in Queensland.

A-Cap will invest A$2.25-million over a two-year term to fund exploration activities on the Malborough project tenements, up to the completion of a bankable feasibility study, in order to earn a 60% interest in the project.

Castillo will remain free carried with a 40% interest.

A-Cap has committed to a minimum expenditure of A$200 000 during the first year, and A$300 000 during the second year.

“The proposed farm-in, JV agreement with Castillo is consistent with A-Cap’s implementation of its diversified mineral strategy and represents an important step for A-Cap with the clear intent to focus on cobalt opportunities,” said chairperson Angang Shen.

“As well as a clean energy approach to our vision of future energy requirements, A-Cap welcomes the close association with Castillo to further our goal to target other cobalt opportunities on a global basis.”

Castillo chairperson Peter Meagher said on Wednesday that this was an optimal arrangement to leverage creating value for shareholders from the company’s Queensland assets, while concurrently progressing the re-opening of its Cangai copper mine, and developing the Broken Hill copper/zinc project.

The Malborough project consists of three tenements which are considered prospective for nickel and cobalt.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

North Ridge Pumps
North Ridge Pumps

North Ridge Pumps is an independent manufacturer of pumps. We have a proven track record for product support and customer service throughout the...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.492s - 110pq - 2rq
Subscribe Now