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Fraser Range Metals Group substantial shareholder takes greater stake

Published: 09:10 12 Apr 2013 AEST

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Fraser Range Metals Group (ASX: FRN) substantial shareholder N&J Mitchell Holdings has increased its stake in the company to 13.36%.

N&J Mitchell Holdings has acquired a further 1.2 million shares, increasing its original 5.02% shareholding.

Fraser Range Metals is working to expand its Fraser Range landholding after applying for two new explorations licences adjacent to its existing Plumridge Project.

The two licences cover a total of 832 square kilometres of the highly prospective Fraser Range Zone, including the Fraser Range metamorphic belt, which hosts Sirius Resources' (ASX: SIR) Nova nickel discovery.

The additions will double Fraser Range Metals’ permit area in the region and provide economies for exploration over a large and contiguous area.

A recent 1,170 line kilometre VTEMmax airborne survey over a large part of the Plumridge Project had identified 28 targets.


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