NT Minerals (NTM) has reached an agreement with 10M for an exploration and potential ownership opportunity within the Archaean Yilgarn Craton of Western Australia (WA).
This deal offers a low-cost entry into a region known for its prospective copper, lead, zinc and gold mineralisation.
The terms of the agreement grant NT Minerals a 12-month period, with the option to extend, to explore the area with exclusive rights to any minerals discovered.
An annual payment of $25,000 (A$38,242) is required for a direct 50% interest in all licences, alongside a right of first refusal on any asset disposals by 10M.
NTM will be responsible for all tenement rents and fees during the term of the agreement.
The Twin Peaks Project in the Murchison Province of the Yilgarn Craton encompasses the entire Twin Peaks Greenstone Belt.
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This area shares geological similarities with the Golden Grove Cu-Zn-Pb-Ag-Au deposit.
The project’s tenements cover the known extent of the Twin Peaks or Illimbirrie Greenstone Belt, which stretches around 33km along a northeast trend.
Historical mining in the area has yielded high-grade copper results, with concentrations up to 16% Cu.
Recent activities in the region have included a trial mining programme that investigated the iron ore potential within an excised mining lease.
NTM is currently undertaking efforts to gather and analyse all historical exploration data over the project area. This includes the integration, processing and interpretation of geochemical and geophysical datasets.
Additionally, the company plans to conduct reconnaissance fieldwork to validate the historical mining results and further assess the potential of the Twin Peaks Project.
NTM managing director Rodney Illingworth said: “The agreement with 10M provides an exciting opportunity for the company to explore for copper and other minerals in the mid-west of WA with a very low entry cost.
“We will review historical studies and commence fieldwork to validate this historical work.”
