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RESOURCE MINING CORPORATION LIMITED - ASX: RMI
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Resource Mining Corporation Limited is an independent Australian mineral resource company focused on the development of its Wowo Gap Nickel Laterite Project in PNG. The company is currently listed on the Australian Stock Exchange with a strategy to develop prospective mineral resource opportunities in Australia and abroad.
Wowo Gold Project
The Wowo Gap Project is located about 200km east of Port Moresby, and 35km from the villages of Safia, near the Musa River and Wanigela, situated on Collingwood Bay. The Wowo Gap nickel-cobalt laterite deposit is held under EL1165. The deposit is located at the eastern end of the Didana Range in a topographic saddle some 700m above sea level. The area is drained by the Musa River and its various tributaries, the largest of which is Bereruma Creek which flows north from the deposit.
Wowo Gap Resource Estimate Update
Indicated Resource: 39 million tonnes @ 1.00% Ni, 0.06% Co
Inferred Resource: 50 million tonnes @ 1.01% Ni, 0.06% Co
The updated resource estimate is quoted to the appropriate level of precision at a 0.8% Ni block cut off grade. The level of 0.8% Ni has been adopted to better define the quantity of higher grade ore available as potential plant feed.
Blackstone Range Project
RMC has entered into a Farm-in Deed with Redstone Resources Ltd for these projects. Under the terms of the Farm-in Deed, RMC has earned a 25% interest in the tenements by the provision of certain geological and geophysical information to Redstone. Redstone is solely responsible for the funding of exploration costs with a minimum of $1,000,000 to be spent by 25 July 2009. Redstone has now met the expenditure commitments that entitles Redstone to 75% of the Blackstone Range Project. RMC has elected to move from a 25% contributing JV participant to a 10% non-contributing free carried position.
Following the successful earn in by Redstone Resources, RMC management and geologists reviewed the potential of the JV area and elected to move from a 25% contributing JV participant to a 10% non-contributing free carried position.
Capricorn Project
Resource Mining Corporation and Ashburton Minerals formed a 50/50 Joint Venture to explore for Copper, Gold and Base Metals on tenements E08/2125, E08/2102 and E08/2103 – the Capricorn Project. These tenements are currently under application and are located in the Ashburton region of WA. The Joint Venture, to be managed by RMC, is between the respective subsidiary companies Resource Exploration Limited (REX) and Ashburton Gold Mines NL (ASH).
Resource Mining Corporation and Ashburton Minerals are pleased to announce that they have formed a 50/50 Joint Venture to explore for Copper, Gold and Base Metals on tenements E08/2125, E08/2102 and E08/2103 – the Capricorn Project.
Mine For
nickel, copper, cobalt, platinum group elements
Location of operation(s)
Papua New Guinea, Western Australia, Queensland
Address
702 Murray Street
WEST PERTH, WA, AUSTRALIA
Phone
08 9213 9400
Website
Last Updated
10/02/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
