Demetallica own the Eloise deep extensions, where as theorised and known for the past years—
• there is excellent copper
grade increasing significantly at depth…
•and intercepts
widening nicely ..
•with truly superb
gold credits .. !!
DRM can actually explore this system on our side along with Jericho extensions , ..and commence open pit mining of Jericho already….and then develop underground operations.. and would also actually have the rights to mine Eloise deeps extension . ( as I see it )
Demetallica management and geological team are the professionals.
How good is this company
No over- stating , careful excellently delivered results.
Beautiful announcement.
There is so much history wrt Eloise and the greater lands entwined back from the amalgamated Breakaway Resources days - Breakaway acquired Eloise 19 years ago in a companies merger .
Eloise then included
all ofthe greater exploration land (which MEP acquired) but sold the mine only to Barminco later in 2000s.
Breakaway Resources-then MInotaur (MEP) now Demetallica own BHP’s early work from in the 1980s with Eloise discovery and drilling work until Mining commenced. BHP also drilled in the region , Demetallica owning all now (SFR & OZL taking equity in DRM shares for their greater land ownership and worked together in past. and also was paid for by Minotaur shareholders and in the DRM IPO for final Cannington and full Jericho and area lands).
Minotaur Exploration (now Demetallica) took over Breakaway Resources in 2013 in a very friendly merger. Breakaway Resources chairman joined the Minotaur board.
And now along with Sandfire and Oz minerals, with all former JVs DRM have conglomerated all of the areas resources..(minus Eloise mine , which is now quite deep and AIC have limited extension so exploration and mine expansion potential)
Minotaur , current management Demetallica , have kept rolling funds from elsewhere (including the WA nickel Leinster tenements and resources from Breakaway, spun into Auroch ) — into now fully owning Chimera amalgamated land with Jericho . Plus also a lot of other funds directly to acquire the full land and tens of millions of dollars by all parties, MEP shareholders, Sandfire , Oz Minerals (> $10 million drilling Jericho alone) , let alone all past work also BHP etc.
Jericho will be mined .
This is what we are here for and have been here for for so long .
Plus Peake and Denison in Sth Oz of course , and greater exploration tenements discovery ongoing .
Thankyou Demetallica exploration total team and management. Bravo
