Newcrest Mining (ASX:NCM) has completed the sale of its Coalstoun copper-gold project in Queensland to ActivEX Limited (ASX:AIV) for $200,000.
The Coalstoun tenement has synergies with ActivEX’ existing southeast Queensland projects.
A non-JORC compliant resource of 85 million tonnes at 0.29% copper was outlined at Coalstoun by Esso, after work conducted from 1972 to 1974.
This included a shallow supergene copper enriched zone of 7.7Mt at 0.66% copper, and previous drill intersections include
390.7 metres at 0.30% copper from surface, and 420.6 metres at 0.30% copper from 6.1 metres.
The Coalstoun tenement also contains several gold targets including the Southeast Breccia and Staib’s Hill prospects, where intersections include 23 metres at 0.81g/t gold from 423 metres, and 80 metres at 0.38g/t gold from surface.
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