https://www.miningweekly.com

Sandfire to farm into Auris’ Bryah basin projects

27th February 2018

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Copper/gold miner Sandfire Resources has agreed a right to earn into junior explorers Auris Minerals and FE Limited’s (FEL’s) Morck’s Well East joint venture (JV) project, as well as into Auris’ fully-owned Doolgunna project, in Western Australia’s Bryah basin.

In terms of the agreement, announced on Tuesday, Sandfire has the right to farm into five exploration tenements located in the eastern portion of the Bryah basin, where the larger company already own the DeGrussa and Monty deposits.

Sandfire will pay $1.2-million to Auris and $300 000 to FEL in shares or cash for the right to earn into the projects. The company also has to incur a minimum of $2-million in exploration expenditure in two years.

Once it has reached the minimum spending threshold, Sandfire could elect to sole fund exploration. The company could proceed to a feasibility study should it define a mineral resource of at least 50 000 t of contained copper.

If a discovery is made on the Doolgunna project and a feasibility study is completed, then Sandfire will own 70% and Auris 30%. If a discovery is made on Morch’s Well East JV project, then Sandfire will own 70%, Auris 24% and FEL 6%.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive 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 0.643s - 110pq - 2rq
Subscribe Now