A joint venture is to be formed with Resource Star Ltd around 3 tenements located north and south of the Savage River iron ore mine. Resource Star Ltd is the holder of EL 11/2005 and Nimrodel is the holder of EL 19/2009 and EL 20/2009. The 3 tenements are the subject of the proposed JV agreement whereby Nimrodel can earn up to 65% of the 3 tenements via an unincorporated Joint Venture.
A modest drill program was conducted in 1982. One of these drill holes intersected 910 grams per tonne of gold over an estimated true width of 0.20 metres at a down hole depth of 140 metres.
NMR Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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