The NORTHERN Territory’s Resources Minister, Kon Vatskalis says that the Northern Territory Government investment in exploration and mining, through the Government’s Geophysics and Drilling Collaborations program, is delivering results.
Proto Resources, which has been backed by the Government’s $100 000 grant, has made a significant copper discovery at Lindeman’s Bore, 70km west of Kalkarindji.
Vatskalis claims that this is a significant discovery for the Territory and a clear demonstration as to why the Northern Territory’s resources sector is not faring as badly as other states.
Proto Resources’ discovery is the first in a vast under-explored region around Lindeman’s Bore and shows a 15 metre wide zone of visible copper mineralisation. Further drilling on site will now be done to prove the extent and economic value of the find.
Proto Resources owns 80% of the Lindeman’s Bore project with the remaining 20% held by joint venture partners.
Vatskalis says that the Territory Government’s China Minerals Investment Attraction Strategy is also paying off with Arafura Resources recently finalising a multi-million deal with Jiangsu Eastern China Non- Ferrous Metals Investment Holding Co. Ltd (JEC). Arafura Resources highlighted the benefits of Minister Vatskalis’ China travel which has cemented firm business relationships between the Territory resources sector and many major mining companies in the country.
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