- Shree Minerals (SHH) has been given the green light for two new exploration licences within the Northern Territory’s Arunta Region
- Shree said it has received confirmation of grants for the Edwards Creek copper tenement and the Box Holes zinc-lead tenement as part of its joint venture project with Territory Lithium
- The tenements have yielded mixed grades from previous drilling, including 2.25 per cent copper, 0.11 per cent lead, 1.54 per cent zinc
- In a broader context, Shree said the joint venture grants the company exposure to an additional highly prospective mineral terrane
- Shree Resources shares are off 3.45 per cent following the announcement, trading at 1.4 cents
Shree Minerals (SHH) has been given the green light for two new exploration licences within the Northern Territory’s Arunta Region.
The Edwards Creek copper tenement and the Box Holes zinc-lead tenement will be added to the explorer’s joint venture Arunta Project with Territory Lithium, which is tipped to cover some 380 square kilometres in the region.
The Edwards Creek Project covers 76 square kilometres and is located 110 kilometres north of Alice Springs.
According to Shree, the prospect has yielded grades of 4.5 metres at 2.25 per cent copper, 0.11 per cent lead, 1.54 per cent zinc and 0.14 g/t gold from 47.45 metres.
The second granted tenement, Box Hole, covers a larger area of 127 square kilometres and is situated approximately 250 kilometres northeast of Alice Springs, with previous drills intercepting 2.8 per cent zinc and 0.67 per cent lead.
In a broader context, Shree said the joint venture grants the company exposure to an additional highly prospective mineral terrane.
Looking ahead, the company has flagged plans to reprocess geophysical data before getting started with drilling.
Shree Minerals shares are off 3.45 per cent following the announcement, trading at 1.4 cents at 12:29 pm AEST.