Helios takes option over Bronzewing South
PERTH (miningweekly.com) – Junior Rox Resources’ subsidiary Helios Gold has taken an option to acquire the Bronzewing South gold project, in Western Australia, from privately held Carnegie Exploration.
Under the terms of the option agreement, Helios will pay a non-refundable cash deposit of A$20 000 for the six-month option period, and will pay a further A$80 000 and issue two-million shares in Helios to Carnegie on the successful initial public offering (IPO) and ASX-listing of Helios.
A further A$725 000 in cash or Helios shares will be handed over when an inferred mineral resource of more than 250 000 oz of gold is announced on the tenements, and a further A$1.25-million in either cash or shares when an indicated mineral resource of more than 500 000 oz is announced.
Rox said on Wednesday that the Bronzewing South gold project complemented Helios’ existing Mount Fisher gold project, which hosts a mineral resource of one-million tonnes, at 2.7 g/t gold for 89 000 oz of gold.
The Bronzewing South project comprises seven tenements covering 115 km2 located to the south and west of the Bronzewing gold mine.
Helios is planning to aggressively explore the tenements, and the Mt Fisher tenure, in its successful IPO and ASX listing.
Rox is initially expected to hold a near 33% interest in Helios, which will have a separate management team and board.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...
VISIT SHOWROOM
Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...
VISIT SHOWROOM
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
