TechGen has entered into a binding Earn-in and Joint Venture Agreement with IGO Newsearch Pty Ltd (“IGO”, a wholly owned subsidiary of IGO Limited) in relation to TechGen’s North Nifty Project in the Paterson Orogen of Western Australia.
The North Nifty Project is located approximately 250km northeast of Newman in northern Western Australia. The project comprises two granted Exploration Licences, E45/5506 and E45/5511, covering a combined area of 47km2. The North Nifty Project lies within the Throssell Group, the younger portion of the Paterson Orogen. The Paterson Orogen is host to a number of world-class mines, the Nifty Copper Mine & Telfer Gold-Copper Mine, and more recent significant new discoveries including the Winu Copper-Gold-Silver Deposit (Rio Tinto) and Havieron GoldCopper Deposit (Greatland / Newcrest).
Project Highlights Include:
- IGO to earn-in to TechGen’s North Nifty Project in the Paterson Orogen of WA.
- IGO may earn an 80% joint venture interest in the project by sole funding A$500,000 of exploration within 4 years. TechGen’s 20% interest will be free carried until completion of a Feasibility Study.
- The North Nifty Project contains several favourable geophysical and geochemical targets and at its closest point is just 8km from the world-class Nifty Copper Mine.
- TechGen strategically enters second JV with an industry major in the Paterson Orogen.
The Project has experienced limited previous exploration with previous work largely focusing on the Hakea Prospect, a broad copper anomaly identified by lag sampling. The project area is split into three separate blocks with the southern block located only 8km from the world-class Nifty Copper Mine. To date North Nifty hasn’t been a focus from an exploration standpoint. This transaction allows Techgen to focus its ongoing exploration expenditure on its key assets, John Bull and Mt Boggola, whilst still preserving upside to the prospectivity of North Nifty’s development.
Figure - Location of the North Nifty Project in the Paterson Orogen, northern Western Australia.