As Per 2015 Annual report "A strategic review of our projects...

As Per 2015 Annual report

"A strategic review of our projects and exploration activities led us to terminate our earn-in agreement with Menninnie Metals Pty Ltd [a wholly-owned subsidiary of Terramin Australia Ltd (ASX: TZN)] in regards to the Menninnie Dam Project in the Southern Gawler Craton of South Australia. As part of the termination, MMPL agreed to pay Musgrave an amount equal to 1% of net smelter returns (“NSR”) in respect of all minerals produced from the Menninnie Dam and Nonning exploration licences, or buy back 50% of this NSR for $1.25M within 60 days of receiving sale proceeds from either of these tenements. Musgrave believes this was an excellent outcome for the Company"



"The Menninnie Dam deposit, located on EL5039, consists of two main mineralised zones: the Menninnie Central zone and the nearby Viper zone. The lodes at Menninnie Central and Viper have been combined to estimate a JORC 2004 compliant Inferred Resource totalling: 7.7Mt @ 3.1% Zn, 2.6% Pb and 27g/t Ag, at a 2.5% Pb+Zn cut-off (ASX: TZN 1st March 2011)"

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http://www.terramin.com.au/project/gawler-ranges-project/