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Doray inks farm-in with Mithril

4th November 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Doray Minerals has signed an earn-in and joint venture agreement with junior Mithril Resources over its Meekatharra gold project, in Western Australia.

Under the terms of the agreement, Doray could earn an 85% interest in the Duffy Well gold project by reimbursing Mithril’s tenement acquisition costs of nearly A$23 000 and completing an exploration spend of A$500 000 over the next three years.

Doray would only be allowed to withdraw from the earn-in after spending a minimum of A$100 000.

The Duffy Well project covers the southern extension of the Gnaweeda Greenstone belt, where Doray recently intersected high-grade gold mineralisation at its Turnberry prospect.

Previous exploration work conducted at Duffy Well included reconnaissance rotary air blast and aircore drill traversing, with little to no follow-up. The work had identified two gold prospective areas earmarked for initial follow-up.

Doray would conduct a field inspection of the two targets before the end of December.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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