South On The Move

News today that South has entered another JV to earn 70% with a TSX junior in Alaska.

"In terms of the agreement, South32 has to contribute at least $10-million in exploration funding over a four-year option agreement, during which time Freegold will remain the operator.The Shorty Creek project is thought to have significant porphyry potential. To date, 12 widely spaced holes with average hole depths of 500 m have been drilled at the Hill 1835 target, all of which intersected significant and consistent copper, gold, silver and tungsten mineralisation." 


"In 2017, South32 entered into an agreement with TSX-listed Trilogy Metals, to fund exploration of its high-grade copper resources in north-west Alaska, collectively known as the Upper Kobuk Mineral Projects (UKMP). The group will invest up to $30-million over three years to explore, expand and advance the UKMP, and in particular to test the extension of the existing Bornite deposit, with an option to form a 50:50 joint venture."

Interesting the different terms of the two agreements - no doubt an expression of their relative merits - augers well for our outcome.

Saddle up your alpacas lads and lassies.