IMX hunts for copper/gold exploration partner
PERTH (miningweekly.com) – Dual listed metals developer IMX Resources has started a process to identify a possible joint venture (JV) partner for non-iron exploration at its Mt Woods tenement, in South Australia.
A data room has been established and confidentiality agreements have been executed, the company said on Wednesday, adding that discussions were under way with several Australian and international copper/gold explorers.
The process would likely be completed in the June quarter.
In October, ASX-listed Oz Minerals withdrew from its exploration JV with IMX over the Mt Woods copper/gold project, after having spent some A$14-million.
ASX- and TSX-listed IMX said that previous exploration over Mt Woods resulted in the establishment of an excellent database of geophysical and geological information.
“The outstanding prospectivity of the Mt Woods tenements, coupled with the availability of a significant exploration database, makes this an attractive opportunity for companies targeting potential new iron oxide copper/gold discoveries in the heart of the world-class Gawler Craton mineral province,” said IMX acting MD John Nitschke.
The Mt Woods tenements cover nearly half of the Mt Woods inlier, which was part of the greater Gawler Craton. The tenements comprise eight exploration licences covering some 3 400 km2, and also included the Mt Woods magnetite project, where an exploration programme was recently launched targeting direct shipping hematite.
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