- Todd River Resources (TRT) has completed the purchase of private companies Marlee Base Metals and Moonknight
- In July, the company signed binding agreements to purchase the two companies which hold tenements in the South West Yilgarn Craton
- Todd River now holds 270 squared kilometres of land in the Craton
- Ian Murray has been appointed as a non-executive Director of Todd River due to the terms of the acquisition
- On market close, Todd is up 17.1 per cent and is trading for 4.8 cents per share
Todd River Resources (TRT) has completed the purchase of Marlee Base Metals (MBM) and Moonknight.
In July, the company signed binding agreements to purchase the two companies which hold tenements in the South West Yilgarn Craton.
The acquisitions included the issue of 100,000,001 shares, which has now been completed.
MBM and Moonknight hold tenements at Berkshire Valley, which is located 100 kilometres north of Chalice’s recent Julimar discovery. Additionally, MBM holds tenements applications in other parts of Western Australia.
Planned work
The company has already commenced evaluation activities at the tenements.
“This work is focussed on areas where co-incident nickel and copper geochemical anomalies have been identified and designed to provide further indication of potential nickel, copper and platinum group element mineralisation,” the company said.
Anticipated work include further auger sampling, geophysical programs over selected areas and drilling on the selected targets from the geochemical sampling and geophysics.
Director appointment
Ian Murray has been appointed as a non-executive Director of Todd River due to the terms of the acquisition.
Ian is a qualified accountant and former Chair, Managing Director and CEO of Gold Road Resources.
On market close, Todd is up 17.1 per cent and is trading for 4.8 cents per share.