Reading the last announcement, I believe they have already satisfied the initial $300,000 minimum spend condition.
'Datamotion Asia Pacific Ltd (DMN) is pleased to announce it has commenced earning 70% of the Mt Barrett project (via its wholly owned subsidiary Universal Rare Earths Pty Ltd) by satisfying the initial $300,000 minimum spend condition of the Mt Barrett Joint Venture Agreement'.
'The joint venture committee appointed Oroya Mining Ltd as the operator and has approved a $450,000 budget for the exploration and drilling program planned to commence in Q1 2011'.
'The company is currently planning to complete a gravity survey followed by a two hole, 850m drilling program on the Mt Barrett anomaly. We look forward to providing updates on the exploration schedule as it progresses'.
Some points of interest from the last announcement:
3.4 DISCUSSION
The Mt Barrett and Mt Weld magnetic profiles have similar shape and wavelength, possibly indicating similar depths to top. If the depth to top of the Mt Weld magnetic source is known then modelling of the freely available magnetic data is recommended as it would provide a means of assessing the reliability ofthe previously generated (Carew, Craven, Mt.Barrett-Magnetic-Modelling_SGC#2015) Mt Barrett magnetic model.
The two main differences between the Mt Weld and Mt Barrett magnetic features are their size and magnetic susceptibility. The 3D magnetic models indicate Mt Weld and Mt Barrett have ~3 km and ~1.5 km diameters respectively and maximum magnetic susceptibilities of ~0.30 SI and ~0.08 SI respectively.
The relatively small size of Mt Barrett may be contributing to the difference in the shape of the two models.
The Mt Weld 3D model shows a well developed, depth extensive non-magnetic core surrounded by a magnetic annulus with varying magnetic susceptibility and or depth to top. The Mt Barrett 3D model also shows a similarly variable magnetic annulus although the magnetic core is far less well developed, particularly at depths beyond ~500 m below surface.
DKO Price at posting:
0.6¢ Sentiment: None Disclosure: Held
