IMX Resources (ASX: IXR) and Southern Gold (ASX: SAU) have formed a joint venture covering a Southern Gold tenement, located near Forbes in New South Wales.
The prime target for IMX within this tenement is copper and gold mineralisation, as it is placed within the prospective Lachlan copper-gold corridor.
There is known gold in the area, with the project centred on the historic Eurow-Vychan copper-gold mine.
Historic production (1899 to 1903) indicates that approximately 50 tonnes of handpicked supergene ore was produced at an average grade of; 14% copper, 4.4 grams per tonne (g/t) gold and 81g/t silver.
IMX Resources said in addition to copper-gold mineralisation, the licence is also prospective for ‘sedex’ style manganese.