Golden Cross Resources (ASX: GCR) will put a cash injection from the sale of its coal tenements in Queensland’s Surat and Galilee basins to use progressing exploration on its other projects.
While terms of the sale remain confidential, the funds received will enable Golden Cross to undertake an expanded exploration campaign focused on the company’s priority projects.
Activities to be undertaken include metallurgical and financial studies at the Copper Hill Copper Gold Project and metallurgical testwork and a scoping study at the Cargo Gold Project, both in New South Wales.
Copper Hill hosts a JORC Resource of 618,000 tonnes of copper and 1.6 million ounces of gold.
The company is also planning to conduct drill testing for geophysical anomalies within the iron oxide-copper-gold projects in South Australia’s Gawler Graton.
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News - Golden Cross Resources cashed up for copper, gold, IOCG exploration after tenement sale
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