New copper-gold exploration partnerships announced
High Power Exploration have partnered with Cordoba Minerals in Colombia and Clancy Exploration in Australia to explore two exciting new copper-gold projects.
Both projects provide us with opportunities to demonstrate our leading-edge exploration technology and to leverage the experience of our discovery-focused team.
Trundle copper-gold project, News South Wales, Australia
We've entered into a farm-in and joint venture agreement with Clancy Exploration on the Trundle copper-gold project in New South Wales, Australia.
Under the tems of the agreement, HPX is to subscribe for 50,000,000 Clancy shares at 1.5 cents ($0.015) each to raise $750,000. HPX and Clancy will then form a joint venture for HPX to earn into the Trundle project which is presently held 100% by Clancy.
Trundle is located just 25km west of the Northparkes copper-gold mine and early interpretations suggest it may have originally been part of the Northparkes complex.
Work is expected to commence in the June 2015 quarter.
For more details, please download the Clancy HPX JV media release.
San Matias copper-gold porphyry, Colombia
We're entered into a strategic partnership with Cordoba Minerals to explore their highly-prospective San Matias Copper-Gold Project in Colombia.
The newly discovered San Matias project contains several known areas of mineralization and is ideally located in flat topography, near significant infrastructure and large scale producing open pit mines.
HPX has agreed to make a strategic investment in Cordoba. We have the option to enter into a joint venture with Cordoba to earn up to a 65% interest in the project by providing funding and completing a feasibility study.
Recent drilling at the project yielded numerous high-grade copper gold intersections including 101 metres of 1.0% copper and 0.65g/t gold.