THE BOURSE WHISPERER: Core Exploration (ASX: CXO) has completed tenement acquisitions moving the company to 100 per cent ownership of exploration interests at the Albarta project, located in the IOCG Aileron Province, northeast of Alice Springs in the Northern Territory.
“Given the outstanding exploration results received to date across our Albarta tenements, management decided it would be prudent to secure 100 per cent ownership of these tenements prior to initiating our maiden drilling program,” Core Exploration managing director Stephen Biggins said in the company’s announcement to the Australian Securities Exchange.
“This acquisition gives Core shareholders the maximum exposure to the upside as we prepare for drilling.”
Core’s 100 per cent-owned Albarta project prospects and tenements on regional geology, NT. Source: Company announcement
Core explained the acquisition of the interests of other Joint Venture tenement holders provides it with flexibility to design its own multi-commodity exploration strategies within the Albarta project.
Core’s tenements include a number of copper, silver, PGE, REE and uranium mineral occurrences.
The company said it believes existing evidence of mineralisation and recently confirmed IOCG prospectivity by Geoscience Australia, NTGS and other companies has verified the strategy Core has followed up to know to stake a position in an area it considers to be emerging as a new exploration hot-spot.
Core’s recent exploration has identified drill targets at both the Blueys and Inkheart prospects within the company’s new Blueys silver project in the Northern Territory.
Core regards these new drill targets, combined with anomalous silver in soil and high-grade rock chip results, to be an indicator of mineralisation.