As the Dean says - this is an "interesting development."
Only rock chip sampling so far, but the grades are certainly high.
The JV at Mangaroon with FQM gives FQM a 51%b in interest in base metals, rising to 70% if they fun all expenditure up to decision to mine.
DRE would have the remaining 30% risk free, without having to fund any of the exploration costs, and retaining 100% of any gold resources found along the way. However the base metal they were emphasising was Nickel.
I wonder if rare earths are specifically mentioned in the JV agreement? Rare Earths seem to me to be a category of their own.
Definitely an interesting development, and it highlights yet again the incredible range of highly prospective targets DRE has across the various tenements they control.
Cheers
Dave
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