Helix Resources Limited (ASX: HLX) – $0.028
17 Jun 2015
Helix Resources Limited (ASX: HLX) has signed an Earn-In Agreement with Fondo De Inversion Privado EPG Exploracion Minera (EPG Mining Exploration Fund) over the Joshua Copper Gold Project in Chile (Figure 1).
Figure 1. Location of Joshua Copper Gold Project
The EPG Mining Exploration Fund is managed by EPG Partners S.A., a Chilean based private equity and advisory company.
Key terms of the Earn-In Agreement are:
- Stage 1: EPG has the option to earn a 33.4% interest in the Joshua Project by undertaking a minimum of 3,500 metres of diamond drilling within 1 year for a minimum commitment of US$1.2 million.
- Stage 2: Upon completion of Stage 1, EPG can then elect to increase its interest to 50.1% in the Joshua Project by completing up to 6,500 metres of reverse circulation and diamond drilling within 1.5 years for a minimum commitment of US$1.8 million.
For further information, visit www.helix.net.au
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