Cape Lambert signs farm-in over Wee MacGregor
PERTH (miningweekly.com) – ASX-listed Cape Lambert Resources has entered into a farm-in joint venture (JV) agreement with fellow-listed Argosy Minerals on a portion of the Wee MacGregor project area, in Queensland.
Under the terms of the agreement, Argosy could earn an 80% interest in the Wee MacGregor project by spending A$1-million on exploration over a two-year period, or on making a decision to mine at the project area.
Cape Lambert subsidiary Mining International would be free carried until Argosy reached a decision to mine.
Argosy on Monday said the farm-in was a good first step in rebuilding the company’s assets through targeted exploration on a prospective project on which early results would determine whether or not the farm-in should continue without significant expenditure.
The near-term strategy for the project area would be to delineate, define and upgrade the historic mineral inventory at the project area to a Joint Ore Reserves Committee-compliant resource and to define sufficient oxide and transition mineralisation to consider the viability of a potential small-scale mining operation.
The Wee MacGregor project comprised three granted mining licences some 60 km from Mt Isa. Reported historic production from the underground mining operation at the former Wee MacGregor mine delivered 2 731 t of copper and 1 535 oz of gold.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















