https://thewest.com.au/business/mining/riva-resources-in-6m-paroo-exploration-deal-ng-b88332932z
Cobalt exploration company Riva Resources is this morning set to announce a $6 million exploration deal with the owner of the Paroo station lead mine to take a 75 per cent of the cobalt, gold and copper rights from any future mine.
Riva, formerly known as Dragon Energy, will announce the memorandum of understanding with Paroo’s owner, Rosslyn Hill Mining, a wholly owned subsidiary of Toronto Stock Exchange-listed company LEADFX, dependent on Riva spending $6 million on exploration over four years.
The MOU also enables Riva to access Rosslyn Hill’s 46sqkm tenement package, including access to infrastructure at the Paroo station lead mine — the world's biggest lead carbonate mine — about 30km west of Wiluna.
This deal pushes Riva’s exploration footprint to 157sqkm and immediately adjoins Riva’s recently purchased Tabac Cobalt Gold project.
Drilling at on the Paroo site is expected to start in February.
https://thewest.com.au/business/mining/riva-resources-in-6m-paroo...
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