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Ausmon Resources receives Mount Tewoo nickel-cobalt-manganese exploration permit

The permit is in area with similar geology to Pembroke and Mt Cobalt, where nickel sulphide and oxide nickel-cobalt mineralisation have been discovered.

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The permit covers an area 25 kilometres southwest of Gympie and 30 kilometres southeast of Kilkivan

Ausmon Resources Ltd (ASX:AOA) has been granted an exploration permit for 100% of the Mount Tewoo nickel-cobalt-manganese exploration area in Queensland.  

The EPM 26764 permit covers an area of about 178 square kilometres and is 15 kilometres south of Aus Tin Mining Ltd’s (ASX:ANW) Mt Cobalt Project.

Effective from March 21, 2019, the five-year permit was granted by the Queensland Government Department of Natural Resources, Mines and Energy following its application for the permit last year.

 

The first-year work commitments on the permit consist of a technical review of historical data, geological and geophysical reviews, mapping reconnaissance and sample collection for a total minimum expenditure of $41,000.

The company is also set to issue the final balance of 3,571,428 fully paid shares to New Base Metals in accordance with the acquisition agreement executed in May 2018.

Quick facts: Ausmon Resources Ltd

Price: 0.008 AUD

ASX:AOA
Market: ASX
Market Cap: $5.06 m
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