Proactive Investors - Run By Investors For Investors

Strategic Elements enters ballot process to secure areas prospective for conglomerate hosted gold

A ballot process is conducted under the West Australian Mining Act when multiple applications are made for an exploration license at the same time.
pilbara
The areas contain Mt Roe Basalt and lower Hardey Formation conglomerates

Strategic Elements Ltd’s (ASX:SOR) fully owned subsidiary Maria Resources is in a formal ballot process with Novo Resources Ltd and another private company to secure two areas prospective for conglomerate hosted gold near Marble Bar in East Pilbara, Western Australia.

The company has been notified by the Department of Mines and Petroleum that the ballots will be drawn this Friday, November 2, 2018.

Notably, the areas totalling about 40 square kilometres were mapped by the Geological Survey of Western Australia to contain Mt Roe Basalt and lower Hardey Formation conglomerates - lithologies related to conglomerate gold discoveries in other areas of the Pilbara.

READ: Strategic Elements throws hat in ring for conglomerate-hosted gold tenements

A ballot process is conducted under the West Australian Mining Act when multiple applications are made for an exploration license at the same time.

The process entitles multiple parties to form an ownership sharing agreement between themselves prior to the ballot being held.

If no agreement is made, a ballot will be held whereby a mining warden, who oversees tenement matters, will use a container with a number of hollow balls similar to ping pong balls.

The names of the competing applicants are placed into the hollow balls, which go into a box.

The box is shaken in front of members of the public and the winning ball is drawn.

View full SOR profile View Profile

Strategic Elements Ltd Timeline

Related Articles

The high-grade Aucu project on a Kyrgyzstan map
January 22 2019
White Cliff Minerals has a portfolio of projects, including a high-grade gold project in the Kyrgyz Republic and nickel-cobalt battery minerals projects in Western Australia. The company is undertaking a review of its assets, hoping to determine how it can maximise value and save on costs.
1548859395_drilling.jpg
January 31 2019
A maiden JORC resource is expected by June after the company drilled a 18.2-metre wide intersection grading 40.3% zinc.
mine
August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo

© Proactive Investors 2019

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