DMY has executed option to transition to minerals explorer.
DMY executed the option long before the June 11 deadline, they must see something in this tenement!
Dromana executes option to acquire highly prospective copper, gold and rare earths project in Angola
Dromana executes 3 month option to acquire Sable Minerals Pty Ltd, the 70% owner of the 3,670km2 Longonjo Project in Angola;
Previous exploration has outlined numerous high grade copper, gold and rare earth targets:
Catabola copper/gold prospect: a mineralised structure of 1.6km in length and up to 30m wide with high grade copper intersections from sampling of underground adits, and trenches including:
Adit 2 : 84m @ 0.81% Cu (including 6.4m @ 3.46% Cu and 5m @ 1.83% Cu)
Adit 3: 16m @ 0.75% Cu (including 4m @ 1.79% Cu)
Adit 2 cross cuts: 7.5m @ 3.46% Cu and 5m at 1.0 % Cu.
Longonjo rare earth prospect: 1.75km by 3.5km outcropping high grade rare earth element prospect in a carbonatite intrusive (average grade 2.43% TREO, median grade 1.71% TREO in a range of 0.10% – 18.9% TREO).
Bongo gold prospect: 10km long shear structure with gold in stream sampling.
Longonjo Project is ~70km from Huambo international airport, sealed roads and a rail line running through the north of the permit linking the major port of Benguela. Infrastructure, services, facilities and labour are all well established and available within the district; and
Dromana to commence immediate confirmatory due diligence exploration at the Longonjo Project.
Dromana technical and legal due diligence on the Longonjo Project in Angola is well underway;
Dromana and Sable Minerals staff to arrive on site next week to prepare for the upcoming exploration program consisting of rock chip sampling,trenching and channel sampling (underground and at surface);
Aurum Exploration Pty Ltd has been engaged to assist due diligence exploration work to commence in late April; and
Exploration focus will be on re sampling the trench and aditto confirm the high grade copper results at Cassenha Hill which sits within the Cata bola prospect.