sZinifex $8.5m interest in SA project

23 February 2008 | 04:37 Code : 16813 Geoscience events
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Trafford Resources has signed major zinc producer Zinifex Limited to an $8.5m joint....

  Trafford Resources has signed major zinc producer Zinifex Limited to an $8.5m joint venture to explore for lead/zinc/silver at its mineral-rich Wilcherry Hill Project, 40km north of Kimba in South Australia’s Gawler Craton.Trafford, which will manage the joint venture for the first $4.5m of expenditure, is already exploring the 976sqkm Wilcherry Hill Project for iron ore with its 50% owned subsidiary IronClad Mining, as well as exploring for copper, gold, uranium and manganese in its own right. Ironclad Mining is currently engaged in a major drilling program to extend an iron ore resource and develop a mining operation on the property. Trafford is planning to drill-test manganese occurrences and continues to evaluate the results of previous drilling for gold and uranium. Trafford's agreement with Zinifex is a significant addition to the intensive exploration already being carried out by Trafford and IronClad Mining at the highly prospective project. Trafford said it believes that the abundance of minerals evident throughout the Wilcherry Hill Project is related to its geological location at the southern limit of the GawlerRange volcanism.

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