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Project : WERRINGTON-OAK PARK JOINT VENTURE PROJECT - BASE METALS RESOURCE

Mining
Open Cut
  Estimated Project Value
$ 2,000,000
Address 50km South of
Suburb Kidston
State QLD
Council Etheridge Shire
Postcode 4871
Project Type Resource - Base Metals
Development Type New
Status Finished (i.e. no further info)
Stage Early Planning
Ownership Private
Notes
No Further Information Available
Commence Date 6/10/2008
Completion Date 7/10/2009
Details
  • The tenement covers the Einasleigh Metamorphics that is considered prospective for world class Cannington and Broken Hill type lead-zinc-silver mines because part of the palaeoproterozoic metamorphics in the Georgetown block is correlated with Cannington and Broken Hill mine sequences.
  • EPM14128.
  • Friday, Lauries, West Fence and Bloodwood.
  • Under the agreement with QGM the joint venture agreement will be terminated after 5 years if a JORC defined base metal resource has not been established, or iff annual exploration expenditure fails to exceed a minimum of $50 000.
  • At the completion of a Bankable Feasibility Study, Drake Resources and Zinifex shall hold a 80% interest in the potential Mining Area.
  • The agreement provides the DRK-ZFX Alliance with sole righ to explore and develop and copper, lead, zinc and silver mineralisation within the exploration permit area.
 
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