PERTH (miningweekly.com) – Diversified miner Rio Tinto is expected to spend some A$3.4-million on the Citadel joint venture (JV) project, in Western Australia, during 2019.
Under the terms of a JV agreement with project owner Antipa Minerals, Rio could fund up to A$60-million in exploration expenditure to earn a 75% interest in the multi-metals project, which is some 5 km from its own Winu copper/gold/silver discovery and 80 km north of gold miner Newcrest’s Telfer operation.
Antipa said this week that Rio’s exploration programme for 2019 will be subject to the completion of final planning and the receipt of formal approvals by the company.
The exploration is likely to consist of drill testing of new aerial electromagnetic conductivity anomalies, drilling of the Calibre deposit’s resource extensional targets and geochemical targets, and of several aeromagnetic targets.
Antipa will have operatorship of the exploration programme.