Centrex gets the rights to NSW project


PERTH (miningweekly.com) – Metals developer Centrex Metals has been granted the mining rights to the Gundaroo gold/base metals project, in New South Wales.

The company applied for the Gundaroo tenement with a view to expand its base metals exploration portfolio within the East Lachlan Ford belt, and said on Thursday that exploration would start later this year.

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The Gundaroo project is located some 10 km west of Centrex’s existing Gouldburn base metals joint venture (JV) with China’s Shandong 5th Geo-Mineral Prospecting Institute.

A desktop review has concluded that the Gundaroo licence area has been underexplored, and was prospective for both hydrothermal gold and sulphide-hosted base
metals, Centrex said.

In addition to the Gundaroo approval, the company was also granted a new 250 km2 type two industrial minerals licence overlaying the current mineral tenements of the current Gouldburn JV, where both barite and lateritic bauxite occurrences have been identified.

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Centrex told shareholders that it would explore for these minerals, in conjunction with the upcoming A$2-million base metals exploration programme being funded by JV partner Shandong, to earn a 35% interest in the JV.

The completion of the JV was subject to both Chinese and Australian government approvals, which were expected later this year.

 

 

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