https://www.miningweekly.com

Venturex and Macarthur Minerals expand MoU

7th July 2016

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed junior Venturex Resources has agreed to expand the memorandum of understanding (MoU) with TSX-V-listed lithium-focused explorer Macarthur Minerals to include the lithium rights on the company’s Whim Creek tenements.

Venturex Resources announced in May that it had signed an MoU with Macarthur Minerals to enter into a farm-in and joint-venture agreement for the lithium rights at Venturex’s 100%-owned Sulphur Springs copper/zinc project, in Western Australia’s East Pilbara region.

Macarthur would have the right to earn up to 51% of the lithium rights by meeting various spending milestones that would be negotiated.

Venturex announced on Thursday that it had agreed to extend the timeframe for the completion of the due diligence from two months to four months.

As part of the due diligence process, Venturex identified that the ground abutting the main Sulphur Springs mining lease was vacant. The ground covered a continuation of the prospective Sulphur Springs stratigraphy and presented opportunities for repeats of Sulphur Springs-style VMS mineralisation.

Accordingly, the company had pegged a new exploration tenement over this area which had also been included in the MoU with Macarthur Minerals.

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:0.042 0.912s - 110pq - 2rq
Subscribe Now