https://www.miningweekly.com

Rio Tinto partners with junior to explore Saskatchewan copper project

13th May 2019

By: Creamer Media Reporter

     

Font size: - +

Diversified mining group Rio Tinto has been granted an option to acquire a majority interest in the Janice Lake copper project, in Canada’s Saskatchewan.

Rio Tinto Exploration Canada (RTEC) has to commit to spending $3-million on exploration at the Janice Lake project over the next year-and-a-half, followed by $10-million in exploration over a four-year period, TSX-V-listed Forum Energy Metals Corp reported last week.

The major has a second option to earn a further 29% interest by spending another $20-million in exploration over a three-year period.

Forum said that RTEC was planning a high-resolution airborne magnetometer survey over the entire extent of the property and about 7 000 m of drilling in 25 to 30 holes in 2019 to meet its first year exploration commitment.

In September last year, Forum completed a successful first pass drill programme. All four drill holes intersected shallow chalcocite, bornite and native copper mineralisation above 80 m in depth, including Hole FEM-01, which intersected 18.5 m (59.0 m to 77.5 m downhole depth) grading 0.94% copper and 6.7 g/t gold including 5.2 m grading 2.22% copper and 16.5 g/t gold.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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