Terramin Australia in Wild Horse Earn-in Agreement
with Freeport-McMoRan Exploration Australia
HIGHLIGHTS
· Earn-in Agreement signed with Freeport-McMoRan Exploration Australia Pty Ltd. (Freeport) targeting possible copper-gold deposits in the Murray Bridge area of South Australia
· Freeport may fund accelerated work program and brings exploration capabilities
· Terramin to retain 25% or dilute to 1% NSR royalty
Terramin Australia Limited (ASX:TZN) (Terramin) is pleased to announce that it has entered into an earn-in agreement with Freeport for exploration of the Wild Horse tenement which covers approximately 462 square kilometres and is located 15 kilometres east of Murray Bridge.
Exploration will primarily target the distinct Wild Horse aerial magnetic anomaly located on the western edge of a magnetic granite pluton. The Wild Horse anomaly exhibits the classic Western Pacific porphyry deposit style of ringed magnetic zonation (Figure 1), a magnetic core surrounded by a demagnetized peripheral zone. The magnetic body is 1300m by 2000m and has been modelled from approximately 100m to a depth of 1400m.
