- Jadar Resources (JDR) has completed due diligence of the Khartoum Tin-Silver-Tungsten Project in Queensland
- Now that due diligence has been completed, Jadar is moving towards final settlement of the sale and purchase agreement with Jervois Mining (JRV)
- Once settlement has been completed, the company will undertake a sampling and mapping program to identify the most prospective drill targets
- In early February, Jadar signed a sale and purchase agreement with Jervois for the purchase of Khartoum for $300,000
- Upon execution of the agreement, Jadar had 30 days to complete due diligence and pay the fee
- Jadar has ended the day in the grey with shares trading at 3.2 cents
Jadar Resources (JDR) has completed due diligence of the Khartoum Tin-Silver-Tungsten Project in Queensland.
The Khartoum Project lies roughly 100 kilometres southwest of Cairns and consists of five exploration permits covering an area of 198 square kilometres.
It is prospective for tin, silver and tungsten mineralisation associated with cassiterite bearing quartz veins.
Now that due diligence has been completed, Jadar is moving towards final settlement of the sale and purchase agreement with Jervois Mining (JRV).
Once settlement has been completed, the company will undertake a sampling and mapping program to identify the most prospective drill targets for upcoming drill programs.
In early February, Jadar signed a sale and purchase agreement with Jervois for the purchase of Khartoum for $300,000.
Upon execution of the agreement, Jadar had 30 days to complete due diligence and pay the fee.
“The inclusion of the Khartoum Tin, Silver and Tungsten Project will add an additional layer of diversification to Jadar’s rapidly growing asset portfolio whilst also increasing exposure to materials that are considered key to electrical products such as tin and silver,” Executive Director Adrian Paul said at the time.
Previous work at the project has intersected up to 7.6 per cent tin, 2.6 per cent tungsten, 10.9 per cent copper, 3.2 per cent zinc, 1 per cent lead, 106g/t silver and 1.32g/t gold.
Jadar has ended the day in the grey with shares trading at 3.2 cents in $22.79 million market cap.