MIDAS Resources has acquired Mulga Minerals which holds iron ore tenements in the Pilbara District.
Mulga holds drill targets with potential for BID and CID iron ore deposits exist on the tenements. The tenements are close to existing or proposed third party infrastructure.
Mulga Minerals also holds two tenement applications with mineral sands potential adjacent to Image Resources Bidaminna Heavy Minerals project in the north Perth basin.
Midas says that it recognises that the Pilbara Iron Ore tenements provides it with a range of iron ore mining targets in an area well serviced with infrastructure but with significant challenges in getting access to that infrastructure.
Hence, the company will cooperate with other companies for the joint development of infrastructure.
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