THE BOURSE WHISPERER: MinQuest Limited (ASX: MNQ) has entered into a farm-in Joint Venture agreement with Golden Predator Corp., a company based in Hayden, Idaho.
Under the agreement MinQuest has acquired the right to earn up to a 75 per cent interest in the Marg VMS project, located in the central part of the Yukon Territory, Canada.
The Marg project hosts the Marg VMS deposit, which contains a total Mineral Resource of 11.74 million tonnes at 1.27 per cent copper, 3.23 per cent zinc, 1.55 per cent lead, 0.61 grams per tonne gold and 39.78g/t silver (3.6 per cent copper equivalent).
“The Marg is a high-grade, high-quality, Mineral Resource and the ability to earn up to a 75 per cent interest in the project is extremely positive for MinQuest,” MinQuest Limited managing director Jeremy Read said I the company’s announcement to the Australian Securities Exchange.
“The project is well serviced by local infrastructure and has an existing work program approval, which means drilling on the project can commence quickly in the northern hemisphere summer.
“Our plan for the Marg is to collect samples for metallurgical test work this summer field season, allowing us to upgrade our Scoping Study financial model for the project and following that, make a decision regarding the commencement of a Feasibly Study in 2016, along with exploration to define additional mineral resources.”
MinQuest outlined its initial work on the project will be to undertake a limited drill program to collect samples for metallurgical test work, the results from which the company anticipates will allow the accuracy of economic modelling for the project to be enhanced.
This, the company said, will be a key decision point for the commencement of a Feasibility Study.