ABM rbs alternative investments (australia) pty ltd

elephant country

  1. 5,618 Posts.
    One of the exploration targets acquired from TAM...

    The Age 04/06/2004

    Wonder if Newmont still has an option over it?


    Tanami Gold shot 1.5� higher to 18.5� on news that it had acquired an option over Newmont's Sabre and Falchion gold prospects, 200 kilometres north-west of Alice Springs.

    Exploration by Newmont had previously outlined a 30-kilometre strike zone of anomalous gold, gold-copper and gold-arsenic antimony values outcropping or under shallow cover. The best results included 30 metres grading 2.5 grams of gold a tonne and 12 metres grading 3.9 g/tonne gold.

    Tanami Gold can exercise the option by spending $165,000 within one year of gaining access to the tenements. If it finds more than 750,000 ounces of gold, Newmont will have the right to buy back into the property.


 
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