viewJervois Mining Ltd

Jervois Mining adds NT copper-gold to growing portfolio


Diversified explorer Jervois Mining (ASX:JRV) has added to its Western Australian, Queensland and New South Wales-focused portfolio with the acquisition of a new copper-gold property in the Northern Territory.

The property is 500 kilometres west of Alice Springs near the NT-WA border. 

The news follows on confirmation earlier this month that Jervois had acquired exploration projects in Queensland and NSW from Explaurum (ASX:EXU).

The latest acquisition of an exploration licence from Platypus Resources will involve the issuing of 2 million Jervois shares at A$0.05 per share from the shortfall of a rights issue earlier this year.

The fundraiser closed in August initially raising about $440,200 ahead of testwork to update the company’s Syerston-Flemington scandium resource in NSW.

Exploration at Syerston so far has resulted in strong values of scandium along with potentially economic by-products of iron, gallium, vanadium cobalt and platinum.

The area targeted by this drilling had been only lightly explored before by previous tenement holders.

As a consequence, the underlying bedrock geology was poorly understood.

Jervois ended the September quarter with more than A$1 million in cash.

Its acquisition of the Explaurum properties this month, however, was valued at $610,500.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Jervois Mining Ltd

Price: 0.24 AUD

Market: ASX
Market Cap: $153.99 m

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