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An announcement from Copper Search Ltd. ( (AU:ATT) ) is now available.
Altitude Minerals has elected to move to Stage One of its earn-in and joint venture agreement with Nimrod Resources over the Byrock copper-gold porphyry project in New South Wales, after initial air-core drilling returned positive proof-of-concept results. The company will issue $200,000 in shares to Nimrod and must invest a further $1.35 million over two years to secure a 51% stake, with drilling having identified porphyry pathfinder elements, propylitic alteration and gold intersections of 0.15 g/t at three priority pipe targets that now warrant deeper reverse circulation drilling, potentially enhancing Altitude’s exposure to a significant extension of the Macquarie Arc and its cluster-style porphyry discovery potential.
More about Copper Search Ltd.
Altitude Minerals Ltd is an ASX-listed mineral exploration company focused on copper-gold porphyry targets within the Macquarie Arc in New South Wales. Through earn-in and joint venture structures, the company is seeking exposure to large-scale, world-class porphyry systems similar to the established North Parkes deposits, positioning itself within a highly prospective Australian copper-gold belt.
Average Trading Volume: 1,193,489
Technical Sentiment Signal: Sell
Current Market Cap: A$7.8M
See more data about ATT stock on TipRanks’ Stock Analysis page.