ActivEX is farming into the Mt Agate Project held by Carpentaria Exploration Limited (ASX: CAP). It is located immediately south of the Company’s Florence Project, 50 km south of Cloncurry. ActivEX can earn 75% interest in the Mt Agate Project by spending $750,000 on exploration over a five year period. The current drill program consisting of seven holes (approximately 1230 metres) to test coincident sub-audio magnetic (SAM) and geochemical targets associated with haematitic granite breccias mapped over a strike length of 4.5km. The program is partly funded by a Queensland Government drilling grant. This drill program is planned to be followed by drilling at the nearby Florence Project, to test extensions at depth and along strike of the known mineralisation at Florence Bore North and Florence Bore South
AIV Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
