Fin Resources Limited (ASX: FIN*)*has moved to expand its interest in the McKenzie Springs Project in Western Australia’s Kimberley Region.
The company is seeking an extra 19% of the project in licence E80/4808, which it considers to be prospective for magmatic Ni-Cu sulphide and Platinum Group Element (PGE) mineralisation.
McKenzie Springs Project
A Joint Venture Agreement covering exploration licence E80/4808 with Cazaly Resources subsidiary Sammy Resources Pty Ltd has been amended allowing Fin the right to farm-to an additional 19% to the 51% it currently holds by spending $500,000 on exploration by the 30th of November 2020. Fin has currently spent approximately $260,000 of the $500,000 exploration spend requirement.
The company said it now plans to engage with the Traditional Owners to commence Heritage Agreement negotiations, facilitating the commencement of heritage surveys over areas of interest.
Subject to successful negotiations with the Native Title Claimants and the heritage survey clearances, the necessary regulatory approvals will be lodged with the DMIRS for a maiden drilling programme
Access to the McKenzie Springs Project is currently restricted due to a COVID-19 Commonwealth Biosecurity Act Direction and a planned heritage survey is likely to be delayed by these travel restrictions.
The McKenzie Springs Project is located in the Kimberley region of Western Australia, 85km north east of Halls Creek. Access is via the Great Northern Highway passing directly through the tenement with various 4WD pastoral tracks providing additional access.
The Project covers an area of approximately 134 sq. kmincluding identified nickel, copper, cobalt and graphite occurrences.