Sandfire enters into third farm-in agreement with Auris Minerals

Sandfire Resources has entered into a third farm-in agreement Auris Minerals to advance exploration at Cheroona project in Western Australia.

Australian base metals explorer Sandfire Resources (ASX:SFR,OTCQB:SRAFF) has entered into a third farm-in agreement Auris Minerals (ASX:AUR) to advance exploration at the company’s Cheroona project, in the Bryah Basin of Western Australia.

Highlights are as follows:

  • Sandfire Resources has a right to earn a 70 percent interest in Cheroona project tenements (E51/1391, E51/1837 and E51/1838) on making a discovery of a minimum 50,000 tonnes contained copper (or metal equivalent) and completion of a feasibility study
  • Auris interest within Cheroona project tenements currently 70 percent, due to existing joint venture with Northern Star Resources (ASX:NST,OTC Pink:NESRF) whom hold remaining 30 percent
  • Sandfire must spend a minimum AU$1.2 million on exploration within first 12 months. Auris and NST interests are free-carried until earn-in is completed, at which time interests become 21 percent and 9 percent respectively
  • Cheroona Project located immediately to the west along strike of Cashman JV, where Sandfire are currently aggressively exploring in the same stratigraphy that hosts the DeGrussa and Monty Cu-Au deposits
  • Sandfire’s extensive regional expertise and funding capacity continue to provide an accelerated pathway to potential discovery at the underexplored Cheroona project

Mike Hendriks, CEO, commented:

We are very pleased to build on the relationship with Sandfire with the introduction of the Cheroona JV. Sandfire bring significant technical expertise and funding power to the table, that provides Auris shareholders with an accelerated pathway to a potential discovery.

Auris has an excellent working relationship with Sandfire through our existing Morck Well and Cashman joint ventures. The significant drilling programs completed and being planned within the joint venture areas reflects Sandfire’s commitment to thoroughly testing the prospective stratigraphy. This latest agreement is reflective of both the quality of exploration work completed to date and the potential upside this work has demonstrated.

Click here to read the whole Sandfire Resources (ASX:SFR,OTCQB:SRAFF) press release.

AU$4 Billion Galaxy/Orocobre Merger to Create Top 5 Lithium Company

Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.

Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.

Keep reading... Show less

IIROC Trading Halt – TMRR

The following issues have been halted by IIROC:

Company: Tempus Resources Ltd.

Keep reading... Show less

Cleantech Investing in Australia

Climate change is a looming issue for Australians, with 82 percent concerned about bushfires and 81 percent worried that drought or flooding will affect crop production and food supply.

This is where conscious investors look to the cleantech sector, which covers everything from renewable energy to low-emission technologies to water technology to battery storage and more.

What should investors know about cleantech in Australia before they jump in? Read on for a look at key factors, including market size, the industries encompassed by cleantech and big players to watch.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Becoming a substantial holder

The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

Keep reading... Show less

Hastings Technology Metals Ltd Signs Major Offtake Contract with thyssenkrupp

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Limited (ASX:HAS) is pleased to announce that it has executed a binding offtake contract with thyssenkrupp Materials Trading GmbH (TK), for high-grade mixed rare earth carbonate (MREC) from the Company’s Yangibana Rare Earths Project (Yangibana) in the Gascoyne region of Western Australia.

Highlights

– Hastings announces signing of a major offtake contract for the supply of its high grade product from its Yangibana Rare Earths Project in Western Australia to thyssenkrupp Materials Trading GmbH.

Keep reading... Show less

Top News

Related News