ABM Resources has signed an exploration agreement with the Central Land Council – the representatives of the Traditional Owners – for the Lake Mackay joint venture project in the Northern Territory.
Lake Mackay is 400km northwest of Alice Springs and includes 8040sq km of exploration licenses and applications.
ABM acquired the project from Tanami Gold in 2009 and in 2013, entered an exploration alliance agreement with Independent Group (IGO).
IGO manages the Lake Mackay project which contains gold, silver and copper resources.
The joint venture parties have now completed exploration agreements for applications in the Lake Mackay joint venture; a key step as the land access agreements enable the granting of tenements.
Field activities can begin in these areas once the tenements are granted and a sacred site clearance has been completed.
ABM managing director Matt Briggs said, “This is a major step towards screening for base metal and gold targets across the project area.
“The initial targets tested have yielded encouraging drilling results and IGO and ABM are keen to unlock the full tenement package to ensure funding is focussed on the best targets to maximise the benefit of the in-ground investment.”