logo-loader
viewShree Minerals Limited

Shree Minerals enters into option to acquire Golden Chimney Gold Project in WA

The Golden Chimney project was under application and the company received confirmation on February 20, 2019, that the application had achieved granted status.

1552028671_shutterstock_294568553.jpg
The project is 180 kilometres north of Kalgoorlie and 45 kilometres south of Leonora

Shree Minerals Limited (ASX:SHH) has entered into an option to acquire the Golden Chimney Project from Carmicheael Prospecting Limited on October 4, 2018, through a share based payment of 9 million ordinary shares.

Following the grant of the license, Shree Minerals has started preparations to immediately begin exploration activities to determine the prospectivity for minerals, in particular gold.

 

In position to execute “clear exploration strategy”

Shree Minerals executive director Sanjay Loyalka said: “We have been eager to commence exploration activities on the Golden Chimney Gold Project.

“The project has now received formal granting and the company is in a position to execute a clear exploration strategy to determine the prospectivity of these prospective gold assets.

“WA gold has been a strong sector and the Leonora province has re-emerged as a historic gold region and we look forward to updating shareholders on the progress in WA while we also continue to advance the Nelson Bay Iron Project in Tasmania.”

Next steps

The company has already started preparations to immediately start exploration activities to determine the prospectivity of the project.

Initial steps prior to applying for relevant permitting and the beginning of drilling will focus on but is not limited to:

  • A more detailed review of historic reports and data mining;

  • The registering and digitising of remaining historic results from scanned reports;

  • Reviewing and tabulating mineral occurrences and alteration within the Melita complex and Niagara Igneous Formation; and

  • Collecting rock specimen samples from key geological units across prospects and historic mines.

Quick facts: Shree Minerals Limited

Price: 0.006 AUD

ASX:SHH
Market: ASX
Market Cap: $3.65 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

Australian Potash cashed up as it works to round off FEED programme at Lake...

Australian Potash Ltd's (ASX:APC) Matt Shackleton speaks to Proactive's Andrew Scott after raising close to $2.23mln via a rights offer which complements the $2mln placement completed in April this year. Following the release of the Definitive Feasibility Study (DFS) in August 2019, APC is...

13 hours, 2 minutes ago

2 min read