Sale Agreement Reached For The Wollogorang Project
- Resolution Minerals has finalised a binding agreement to sell the Wollogorang Project to neighbouring NT Minerals (ASX: NTM) for $250,000 ($50,000 cash and $200,000 shares)
- NT Minerals holds the adjacent 13,184 km2 Redbank Copper Project with *8.4 Mt @ 1.1% Cu and the strategic project acquisition builds on NT Minerals district scale ground position
- The sale, for cash and shares, allows RML to focus funds on other projects and retain upside through a shareholding in NTM as consideration; completion is expected within a month
- Also in the Northern Territory, drilling is progressing well at RML’s BHP-funded Benmara Project, and a reconnaissance field program has just been completed at the Carrara Range Manganese Project with rock chip assays expected in about a month
"We are pleased to finalise the sale of the Wollogorang Project to NT Minerals. The prioritisation of time and funds is a key attribute of successful exploration companies. With our growing portfolio of New Energy Metals Projects, we are constantly reviewing and making decisions about which projects we believe have the best potential for exploration success. In the immediate future this includes continuing to progress a scoping study at the George High Purity Silica Sand Project, as well as the current drilling program at the Benmara Project, and the recently announced Allegra Nickel Project.
We wish NT Minerals all the best with their acquisition of the Wollogorang Project which represents a complementary land position to their neighbouring Redbank Copper Project, in the McArthur Basin."
- Chris McFadden, Managing Director, Resolution Minerals
WATCH: Exploration Manager, Christine Lawley, recently returned from a reconnaissance field trip to the Carrara Range Manganese Project. Get a first look at the project with this exploration update.