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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Mindax Starts Copper Gold Scout Drilling At Martlock Project 0 comments
    Feb 27, 2013 6:16 PM

    Mindax (ASX:MDX) has started its field program for this year with scout drilling targeting copper-gold underway at its Mortlock Project in Western Australia.

    The 3,000 metres scout drilling project is likely to continue for about two weeks.

    Additional drilling will be undertaken at the Centre Forest East copper-gold target, where previous exploration has unveiled positive anomalies of copper and gold mineralisation in the regolith.

    The scout drilling will help better define the mineralised extents.

    The Mortlock project is part of the Yilgarn Avon Joint Venture, and is being fully funded by the company.

    Mindax's managing director Steve Ward said," We are pleased to begin our 2013 field work at Mortlock. Recent successful fund raising has enabled us to carry out this program."hat

    He added that the company was building momentum on its four projects for key commodities.

    It's Mt Forest Iron project is progressing through feasibility with a view to mining at the end of next year.

    It has applications in place for water and infrastructure covering over 2,400 square kilometres in support of the project.

    It is also the greenfields discoverer of a new uranium province near Mukinbudin in WA, as well as has gold and copper exploration projects in the state.

    Mindax has built a significant portfolio of 37 mineral exploration and mining tenements covering over 4,000 square kilometres.

    The company raised A$500,000 in a recent share placement to sophisticated and professional shareholders.

    The new funds are on top of nearly A$4 million in cash the company held at the end of the December 2012 quarter.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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