- Astro Resources (ARO) has been granted a new exploration licence for an area near its recently acquired Jack Track deposit in WA’s south west
- ARO applied for the licence after buying out Iluka Resources (ILU)’s stake in the deposit back in September
- The company also revealed that an extension of the term for its East Kimberley Diamond Project exploration licence has been granted as well
- Astro Resources plans to explore both areas, saying a scope of work is being prepared for East Kimberley while resource upgrade work will be carried out at Jack Track
- Company shares opened Tuesday’s trading session at 0.5 cents each
Astro Resources (ARO) has been granted a new exploration licence.
The licence covers an area southeast of the materials stock’s newly acquired Jack Track deposit in WA’s south west.
ARO first applied for the licence after buying out Iluka Resources (ILU)’s stake in the Jack Track deposit back in September.
It plans to undertake exploration work at the new tenement and Jack Track as part of its wider resource upgrade strategy for the Governor Broome Project.
Astro also revealed post-market-close on Monday that an extension of the term for its East Kimberley Diamond Project exploration licence has been granted.
The company applied for an extension to the project’s exploration licence earlier this year.
Now that it’s been granted, ARO said it would begin preparing a scope of work to be undertaken at the East Kimberley Diamond Project.
The exact details of the work are yet to be finalised, but the company stated it was “reviewing opportunities to maximise the value of this asset for ARO shareholders.”
Astro Resources’ shares opened Tuesday’s trading session at 0.5 cents each.