Sign up Australia
Proactive Investors - Run By Investors For Investors

Caeneus Minerals increases stake in nickel project

While lithium exploration continues in Nevada, Pardoo is highly valued.
nickel on the periodic table
Drilling at Pardoo is expected to start in late 2017

Caeneus Minerals (ASX:CAD) has increased its stake to 80% in the Pardoo Nickel Project located in the Northern Pilbara region of Western Australia.

The company earned the interest from Segue Resources (ASX:SEG) under the standing joint venture agreement and agreed up variations.

Under the agreement, Caeneus earned the first 51% by spending $250,000 within 12 months of signing the agreement and more recently earned a further 29%, which increased its stake to 80%.

The second stage earn-in of the additional 29% was through $75,000 exploration expenditure and the issuance of 58.3 million shares priced at $0.003 to Segue.

The Pardoo Nickel Project is highly prospective for magmatic nickel-copper sulphides.

The project’s sedimentary Highway deposit hosts a current inferred resource of 44.7 million tonnes grading 0.3% nickel and 0.13% copper.

Plans to drill Pardoo in 2017

Earlier this year, Caeneus used a consultant to collate and reinterpret all of the pre-existing geophysical and drilling surveys with a view to pinpointing possible mineralisation targets for follow-up drilling.

As a result of this, 16 targets were defined worthy of follow-up drilling and the company anticipates drilling to start late during the year.

View full CAD profile View Profile

Caeneus Minerals Ltd Timeline

Related Articles

1527253264_Kavango.jpg
May 29 2018
Kavango Resources is going big game hunting in Southern Botswana
site map
July 17 2018
West Musgrave Project is the largest undeveloped nickel-copper project in Australia.
1515749109_lithium-periodic-10.jpg
July 23 2018
Savannah Resources has a broad portfolio of assets, including some highly attractive lithium

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use