Minemakers’ (MAK) has entered a Joint Venture with Clancy Exploration Limited (CLY) over two exploration licences in north- west Tasmania. These tenements contain tin/lead/silver deposits and have considerable potential for discovery of large tonnage replacement style ore bodies such as Renison, Mount Bischoff and Moina. The Oonah Mine has a significant tin/silver/copper inferred resource estimated at 179,000t at 1.2% tin, 1.6% copper and 143gpt silver with potential for it to be increased: it is intended to assess its open cut potential. The Waratah tenement surrounds (but does not include) the Mount Bischoff mine, which has past production of 10.5Mt at 1.1% tin, and has numerous targets for repetitions of that deposit.
TNT Mines Pty Limited is a wholly owned subsidiary of Minemakers Ltd. The assets of TNT are, or will be, the very large Moina tin/tungsten/fluorspar/magnetite skarn deposits, and several tungsten/tin or tin deposits in north-east Tasmania, including the historic Aberfoyle, Storey’s Creek and Anchor mines. TNT has agreed to form a Joint Venture with Clancy Exploration Limited under which TNT can earn a 75% equity by meeting exploration commitments for the 2011 year.
Minemakers’ Managing Director, Andrew Drummond, stated: “These tenements give TNT access to further known mineralised deposits and also to key exploration ground with previously defined targets for the large tin deposits which characterise the region. They are a valuable addition to the deposits already held elsewhere in Tasmania by TNT”.
http://www.traderdealer.com.au/Fundamentals/mak
http://www.traderdealer.com.au/Fundamentals/CLY
