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Chase Mining gains new substantial holder in Syracuse Capital

The company’s recent investment into private exploration company Red Fox Resources has been endorsed by the purchases of new substantial holder Syracuse Capital.

Chase Mining Corporation Ltd - Chase Mining Corporation gains new substantial holder in Syracuse Capital Pty Ltd
A total of 18,375,010 shares have been acquired in recent months for a voting power of 5.76%

Chase Mining Corporation Ltd (ASX:CML) has gained a new substantial holder in Syracuse Capital Pty Ltd which holds 5.76% of the company.

Perth-based Syracuse attained this status after acquiring 18,375,010 ordinary shares in the company between October 2, 2020, and January 8, 2021.

Queensland exposure

The company recently gained exposure in North Queensland through a strategic investment in the advanced exploration company Red Fox Resources Pty Limited.

Chase invested A$600,000 to become a 40% shareholder in Red Fox, giving it exposure to:

  • Copper-gold (± cobalt), high-grade gold and silver-lead-zinc focus;
  • Seven wholly-owned granted tenements (EPMs) covering 900 square kilometres in two highly mineralised districts: Mt Isa/Cloncurry and Georgetown – not subject to any royalties or commissions; and
  • Pipeline of targets for discovery of Ernest Henry-style IOCG copper-gold, Tick Hill-style high-grade gold and, large Century and Broken Hill-style zinc-lead-silver deposits.

Quick facts: Chase Mining Corporation Ltd

Price: 0.016 AUD

ASX:CML
Market: ASX
Market Cap: $5.86 m
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