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ActivEX granted Selwyn East permit, near Ivanhoe Australia's Merlin project

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ActivEX (ASX: AIV) has reported that its EPM 18073 Selwyn East has been granted by the Queensland Government near mining key projects owned by Ivanhoe Australia (ASX: IVA).

EPM 18073 covers a 211 square kilometre area which is located in the Selwyn district, 75 kilometres south of Cloncurry and 15 kilometres south-east of the Company’s Florence Project area.

The new EPM is adjacent to two large new developments owned by Ivanhoe Australia which has just announced that it has moved to pre-feasibility at the Mt Dore Cathode Copper Project.

This in addition to its decline into the high grade molybdenum deposit at Merlin, which has progressed about half way to the ore zone.

ActiveEX's ground is less than 3 kilometres east of these developments and parts of it lie on the southern contact of the fertile granite.

Data compilation of previous exploration in the Selwyn East area shows that little detailed work has been carried out in the past and that no drilling has been attempted in the EPM area.

ActivEX has processed available aeromagnetic and radiometric data over the area which has identified a strongly developed structure, passing through the central part of the EPM.

This structure could splay off the Mt Dore-Mt Elliott structure and control the shape of the fertile Mt Dore Granite. The structure will be targeted in early field activities.

An initial inspection of the ground will be carried out in the next few weeks to formulate a suitable exploration program for the area.

 

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Price: 0.13 AUD

ASX:AIV
Market: ASX
Market Cap: $23.03 m
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