why dont they just keep it, they might actually make some money out of it.
AUCXIS LIMITED 2002-07-03 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ * Aucxis a successful bidder to acquire from Dolomatrix Australia Ltd 50% of its interest in the Yamarna Gold Project
* The Yamarna Project covers a total area of more than 2000 sqkm of an under explored greenstone belt, that shows all the features of typical well endowed gold districts in the Yilgarn including:
* Extensive geochemical anomalies with one grade gold Intercept.
* Complexity deformed greenstones.
* Major shears with gold mineralisation (eg Attila-Alaric)
* Exploration to date by WMC has outlined a number of high ranking targets ready for infill drilling including result of 8m @8.0g/t Au(Including 2m @ 31.9 g/t Au).
* The project covers a large ground holding over gold prospective Archean greenstone with nearby gold resources totalling 0.7 mill oz @1.52 g/t Au.
* A good dataset exists from WMC's recent exploration effort including detailed aeromagnetics.
* Many prospects already outlined, some of which have had limited drill testing and others remaining to be drill tested.
* The Yamarna Project represents a unique opportunity to locate several large scale gold deposits within the 90km of strike.
Aucxis, jointly with unlisted public company Excor Resources Ltd, has been advised that it is the successful bidder to acquire a 90-100% interest in the Yamarna Gold Project from Dolomatrix Australia Limited (formerly Kilkenny Gold NL). The successful bid is subject to formal documentation, third party pre-emptive rights and necessary ASX/Shareholder approvals. Aucxis will acquire 50% of the available interests (which are 90-100% of the tenement holdings), at a total acquisition price to Aucxis of $325,000 in a mixture of cash and shares.
Further information on the Project will be released as the proposed acquisition progresses.
MORE TO FOLLOW
DMX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
