https://www.miningweekly.com

Iluka signs exploration deal with Monax

17th March 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Mineral sands miner Iluka has signed a nonbinding term sheet with fellow-listed Monax Resources over a proposed farm-in and joint venture agreement over the Phar Lap iron-oxide/copper/gold project, in South Australia.

Under the term sheet, Iluka could earn an 80% interest in the project by funding A$2-million in exploration over a four-year period. The mine was expected to spend A$400 000 within the first two years of the earn-in period, and could elect to withdraw from the farm-in at any time after this expenditure.

Monax had previously completed a detailed infill ground survey over two targets on the property, identified by existing gravity and magnetic survey data.

The junior noted that an Aboriginal heritage survey had also been completed, with both targets cleared for drilling.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

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:0.062 0.746s - 110pq - 2rq
Subscribe Now