Join our daily newsletter At The Bell to receive exclusive market insights
- A subsidiary of exploration company Ausmon Resources (AOA), New Base Metals, will soon be granted a six-year exploration licence for its McAlpine application in NSW
- The company lodged an application for the ELA 6242 in March 2021 and the Minister has proposed to grant the request
- The licence covers the McAlpine Copper and Chromite historical workings and is near Ausmon’s granted tenement Brungle Creek
- On the market this afternoon, Ausmon is in the grey and trading at 0.6 cents per share
Ausmon Resources’ (AOA) subsidiary, New Base Metals, will soon be granted a six-year exploration licence for its McAlpine application in NSW.
The company lodged an application for the ELA 6242 in March 2021 and the Minister has proposed to grant the request.
ELA 6242 covers the McAlpine Copper and Chromite historical workings and is near Ausmon’s granted tenement Brungle Creek, 15 kilometres northeast of the town Tumut.
Once the grant has been received, the company will have expanded its presence to an exploration region that has the potential to host cobalt, copper, chromite, gold and nickel.
Just last month, Ausmon completed a drilling program at the Eaglehawk prospect in New South Wales.
The four-hole program tested chargeability targets that were found during a survey late last year.
Initial samples have been received by the lab, with the second batch expected to be sent in the next few days.
On the market this afternoon, Ausmon is in the grey and trading at 0.6 cents per share at 12:04 pm AEST.
