Aussie Q acquires three new tenements

27 November 2007 | 04:07 Code : 16019 Geoscience events
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Queensland-based minerals exploration company, Aussie Q Resources has....

  Queensland-based minerals exploration company, Aussie Q Resources has acquired three additional Exploration Permit Minerals (EPMs) in the Whitewash Project Area, northwest of the town of Monto in Central Queensland.These three additional licences will increase Aussie Q’s total area under EPM from 360sqkm, prior to the company’s IPO, to more than 900sqkm in a region that is known to host base metal mineralisation, such as copper and molybdenum. Aussie Q executive director John Goody provided tenement EPM 15921 at no cost from his holdings in Goody Investments Pty Ltd. Aussie Q said Mr Goody had also suggested it make an application for the region around EPM 15921, as the area hosts historic workings. The company applied for two EPMs in this area—EPMA 17001 and EPMA 17002—which were not viewed as competing applications and were been accepted by the Department of Mines and Energy. Aussie Q said it expects EPMA 17001 and EPMA 17002 will be available for exploration within twelve months. The company has already begun planning exploration work for EPM 15921. Aussie Q CEO, Dr Richard Haren said: “It is the Board’s belief that these additional areas will contribute substantially to shareholder value in the coming years.”

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