TechGen Metals Limited (ASX:TG1) has entered into a binding farm-in term sheet with Rio Tinto Exploration Pty Limited in relation to TechGen’s Harbutt Range Project in the south Paterson Province of Western Australia.
Farm-In and Joint Venture – Harbutt Range
Rio Tinto Exploration to farm-in to TechGen’s Harbutt Range Project.
Rio Tinto Exploration may earn an 80% joint venture interest in the project by sole funding A$3,000,000 of exploration within five years, including a minimum of 3,000m of drilling
The Harbutt Range Project contains several favourable geophysics and geochemical targets.
“We are delighted to have such a quality exploration partner at the company’s Harbutt Range Project and this Farm-In and Joint Venture with Rio Tinto Exploration enables the company to additionally focus and spend our exploration funds on our other up-and-coming gold and copper drilling campaigns,” TechGen Managing Director, Ashley Hood, said.
“The Paterson Orogen is host to a number of world class operating mines, Nifty Copper Mine & Telfer GoldCopper Mine, and more recent significant new discoveries including the Winu Copper-Gold Deposit (Rio Tinto) and Havieron Gold-Copper Deposit (Greatland / Newcrest).
“Given the experience of the Rio Tinto Exploration teams currently operating in the Paterson region, we are excited by the opportunity that this Farm-In and Joint Venture presents to our shareholders and look forward to working with our new partners.”
The Harbutt Range Project is comprised of Exploration Licences E45/5294 and E45/5439 covering a combined area of 376 sq. km located 1,200 km northeast of Perth in northern Western Australia.
The project lies within the Rudall Complex of the Proterozoic-aged Paterson Orogen and contains several geophysical and geochemical anomalies that represent potential target areas for further exploration, including drilling.
The Harbutt Range Project is considered prospective for several mineralisation styles including intrusive related copper-gold and sediment hosted base metal (copper-lead–zinc–silver) mineralisation.
Identified prospects at the Harbutt Range Project include the Electromagnetic related Kaos, Control, Maxwell, El Gringo, Roulette and San Pedro Prospects and Induced Polarisation chargeability related Ninety-Nine and Anomaly A – E Prospect.
Next Steps
The company looks forward to working with Rio Tinto Exploration to explore the Harbutt Range Project and keep the market informed as this exciting partnership advances.
For further information please visit: https://techgenmetals.com.au/
