Carnavale Resources (ASX:CAV) will gain a better understanding of the potential value in a copper tailings project in Beaver County, Utah - kicking off exploration.
As part of an option, it agreed to fund up to US$500,000 for aerial photography, contouring, auger drilling / sampling, metallurgical test work, resource calculation, permitting, concept design, capital and operating cost estimates.
Carnavale can, on a staged basis, earn up to 65% of the Essex project.
This will lead to a report in determining the economics of the Essex project and whether to proceed with the Joint Venture.
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