Planet Metals hunts for new project partner
PERTH (miningweekly.com) – ASX-listed junior Planet Metals was on the hunt for partners to assist in developing its Mount Cannindah copper/gold project, in Queensland.
The company recently retained 100% of the Mount Cannindah project after its farm-in partner Drummond Gold withdrew from a 2010 agreement.
Planet said on Thursday that its initial focus would now be on compiling all data, results and information gained from the A$2.3-million works programme undertaken at the site over the last three years. A review of the grade-tonnage curve would also be undertaken to assess the future strategy and work programme requirements.
The project’s current resource stood at 5.5-million tonnes, grading 0.92% copper, 0.34 g/t gold and 14.9 g/t silver, of which some 80% was classified as measured and indicated.
Work to date has also highlighted the potential for higher gold content at the Southern Skarn regional target, some 2 km south of Mount Cannindah. A site visit would be conducted in the current quarter to confirm key findings of the review, as well as to assess the next phase of exploration at the Southern Skarn target.
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