logo-loader
viewJervois Mining Ltd

Jervois Mining adds NT copper-gold to growing portfolio

au_nt__350_5652a1ebe3566.jpg

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

ASX:JRV
Market: ASX
Market Cap: $153.99 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Titanium Sands outlines 2020 strategy for mineral sands in...

Titanium Sands Limited (ASX:TSL) managing director Dr James Searle outlines his corporate snapshot for 2020 to Proactive, focused primarily on mineral sands operations in Sri Lanka. Apart from discussing the latest results from the Mannar Island project,...

3 hours, 26 minutes ago

2 min read