Iron Bear Resources holds a 20% interest in the Wee Macgregor project.
Comprises of three granted mining licences. ML 2504, ML 2773 ML 90098.
Iron Bear Resources holds a 20% interest in the Wee Macgregor project which comprises three granted mining licences, ML 2504, ML 2773 and ML 90098. These licences are located approximately 60km southeast of Mt Isa. The Wee Macgregor project (licence ML 2504) has an existing JORC 2012 estimated Inferred Resource of 1.65Mt @ 1.6% Copper and an exploration target of between 1.0 – 1.5Mt @ 2.3 – 3.7% Cu.
Cohiba Minerals Limited (Cohiba), through wholly owned subsidiary Cobalt X Pty Ltd, has earnt an 80% interest in mining licences ML 2504, ML 2773 and ML 90098 under a Farm-in agreement with Iron Bear Resources. The Company retains a 20% interest in the mining licences and a pre-emptive right over the remaining 80%.
The Lady Ethleen tenement (ML 2771) has been 100% retained by Iron Bear Resources (Lady Ethleen). The Lady Ethleen tenement has been utilized for a trial mining and processing exercise using a newly developed green leach process known as GlyLeach TM (refer ASX announcement 4 October 2020).