Chase Mining Corporation Ltd (ASX:CML) has gained a new substantial holder in Syracuse Capital Pty Ltd which holds 5.76% of the company.
Perth-based Syracuse attained this status after acquiring 18,375,010 ordinary shares in the company between October 2, 2020, and January 8, 2021.
Queensland exposure
The company recently gained exposure in North Queensland through a strategic investment in the advanced exploration company Red Fox Resources Pty Limited.
Chase invested A$600,000 to become a 40% shareholder in Red Fox, giving it exposure to:
- Copper-gold (± cobalt), high-grade gold and silver-lead-zinc focus;
- Seven wholly-owned granted tenements (EPMs) covering 900 square kilometres in two highly mineralised districts: Mt Isa/Cloncurry and Georgetown – not subject to any royalties or commissions; and
- Pipeline of targets for discovery of Ernest Henry-style IOCG copper-gold, Tick Hill-style high-grade gold and, large Century and Broken Hill-style zinc-lead-silver deposits.