Lachlan Star Limited Announces Formation of Bushranger Joint Venture
14.07.2014 | Marketwire
PERTH, WESTERN AUSTRALIA -- (Marketwired - July 14, 2014) - Perth, Western Australia: Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (ASX:LSA) (TSX:LSA) is pleased to announce that Anglo American Exploration (Australia) Pty Ltd ("Anglo American") has given notice to the Company that it has satisfied the minimum earn-in requirements in accordance with the Bushranger Exploration Farmin and Joint venture Agreement and is exercising it's right to form a Joint Venture with the Company.The initial participating interests in the Joint Venture will be:
Anglo American 51%
Lachlan 49%
Anglo American has recently completed an airborne magnetic and radiometric survey, a MIMDAS IP survey and has re-logged historic drill core from the Racecourse and Footrot Prospects which includes spectral logging of core and RC chips. Much of the work is likely to result in a re-interpretation of the copper mineralisation potential on the tenement.
The Joint Venture participants will now work towards developing a programme and budget for the upcoming year.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
For and on behalf of the Board
Scott Perry
Chairman
To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/Bushranger140714.pdf
ABN: 88 000 759 535
Contact
Lachlan Star Limited
Michelle McAuliffe
+61(8) 9481 6006
michelle.mcauliffe@lachlanstar.com.au
www.lachlanstar.com.au