Mining project group

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Information on stock, financials, earnings, subsidiaries, investors, and executives for Mining Projects Group. Use the PitchBook Platform to explore the full company. Get the latest Mining Projects Group stock price and detailed information including news, historical charts and realtime prices. Mining Projects Group Limited (MPJ) Announcements. Read detailed company information and latest announcements from Mining Projects Group Limited including news.
HotCopper has news, discussion, prices and market data on MINING PROJECTS GROUP LIMITED. Join the HotCopper ASX share market forum today for free, page-1. 2 Mining Projects Group Limited (ASX:MPJ) (“the Company”) is pleased to announce it has commenced the next stage of the 2015 drilling programme at the Roe Hills. Information on stock, financials, earnings, subsidiaries, investors, and executives for Mining Projects Group. Use the PitchBook Platform to explore the full company. Get the latest Mining Projects Group stock price and detailed information including news, historical charts and realtime prices. Mining Projects Group Limited (MPJ) Announcements. Read detailed company information and latest announcements from Mining Projects Group Limited including news.

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Mining Projects Group Limited (MPJ) Announcements. Read detailed company information and latest announcements from Mining Projects Group Limited including news. The Greenlaws Mining Project has 506 members. Greenlaws Mine is high on Chapel Fell, overlooking Weardale. Abandoned in 1897, it is one of the few that. Mining Projects Group has jetted into the Albany Fraser Orogen acquiring rights to three exploration lease applications prospective for nickel/copper/gold. View Mining Projects Group Limited ASX:MPJ share price history, dividends & company information on SharePrices.com.au. UPDATE 1.35pm: Shares in Mining Projects Group (MPJ) were higher after the company agreed to buy a lithium/gold project in the . Run by investors for investors Proactive Investors is a Leading source of in-depth comment, analysis, financial news, press releases and share price.

Mining Projects Group Limited (MPJ) Announcements. Read detailed company information and latest announcements from Mining Projects Group Limited including news. 2 Mining Projects Group Limited (ASX:MPJ) (“the Company”) is pleased to announce it has commenced the next stage of the 2015 drilling programme at the Roe Hills. Mining Projects Group has jetted into the Albany Fraser Orogen acquiring rights to three exploration lease applications prospective for nickel/copper/gold.


Mining Projects Group (ASX:MPJ) has jetted into the Albany Fraser Orogen acquiring rights to three exploration lease applications prospective for nickel/copper/gold.

The optioned tenement package in Western Australia has a footprint of over 566km2 within this emerging mineral province.

By way of comparison, Sirius Resources (ASX:SIR), with its Nova nickel/copper discovery in the Fraser Range, has a 1,500 km2 landholding.

One tenement to be acquired - E69/3082 60 is located in the heart of the Fraser Range Orogen. It is likely to be prospective for nickel, copper and gold mineralisation potentially under sedimentary cover.

Mining Projects has signed a binding Heads of Agreement with Epi Energy Pty Ltd with an option acquire a 70% interest in three exploration lease applications located in the Fraser Range.

The option can be exercised dependent on due diligence and preliminary exploration.

The exploration lease applications are identified by application numbers EL28/2271, EL69/1594 and EL69/3082.

Terms Of the Option

- An upfront payment to Epi through the immediate issue of 15,000,000 ordinary fully paid MPJ shares which are being issued at 1 cent each
- The Option allows MPJ to complete due diligence, including exploration works, for a period of not less than 6 months to determine prospectivity of the exploration leases
- Exploration work is planned to include an aeromagnetic survey as well as mapping and soil sampling programs

Exploration

The leases are currently under application. No exploration has been done to date on the tenements.

Forward program

On execution of the formal agreements, a field inspection will assess and map rock outcrops.

This will be reviewed to assess potential for auger sampling, as well as complete airborne geophysics to delineate prospective areas.

Terms of acquisition on exercise of option

- MPJ can exercise the option to acquire a 70% interest in any or all of the leases at any time before the end of the due diligence period or, the date which is 14 days after the grant of the last of the exploration licence applications.
- On exercise of the option MPJ shall:
- Make a cash payment of $250,000 to Epi
- Issue of 17,500,000 fully paid ordinary MPJ shares at a deemed issue price of 2 cents per share to Epi
- Issue of 8,750,000 options to acquire ordinary MPJ shares exercisable at 3 cents with an expiry date of 30 July 2017
- MPJ has first right of refusal on the remaining 30% interest in the exploration licenses owned by Epi
- A milestone payment of $2.5M is payable on a JORC Resource of 30,000t Ni or a JORC Resource of 250,000ozs Au is achieved

Location and geology

The areas of interest occur along the south-east margin of the Archean Yilgarn Craton within the Albany-Fraser Province.

Locally, the nickel copper sulphides are represented by pyrrhotite, pentlandite and chalcopyrite which are hosted in strongly metamorphosed rocks called granulites and are interpreted to be the end product of altered and metamorphosed precurser mafic-ultramafics rocks.

The ultramafic lithologies are contained in a sequence of ultramafic to felsic volcanics and sediments. The Fraser Range zone has a north-east southwest trend.

Why the excitement of the Albany Fraser region?

In two words - Sirius Resources (ASX:SIR).

Previously unexplored and inaccessible, Sirius has demonstrated the prospectivity of the Fraser Range with a new nickel-copper sulphide discovery under cover in a virgin area called Nova. Its share price has rocketed over 2,000 per cent in the space of months.

A blind (undercover) ore body was identified by Sirius using EM. Nova is but one EM conductor of three known. It is a new style of deposit in an entirely new province in the Fraser Range.

To gain a inkling as to the potential scale of Nova:

- The first EM conductor extends over 300m, plunging from near surface for 1,000m to a vertical depth of ~650m
- The conductor limited by current range of detection of geophysics
- Potential for both large tonnage and high grade
- Exceptional Grade (Discovery hole 4m @ 3.8% Ni, 1.42% Cu)

Early stage geology comparison

At Sirius, the mineralisation appears to be a modified mafic/ultramafic associated magmatic sulphide deposit

At the three tenements optioned by MPJ, the ultramafic lithologies are contained in a sequence of ultramafic to felsic volcanics and sediments.

Analysis

Although very early days, optioning of the tenement package in the Albany Fraser Orogen by Mining Projects Grouphas changed the face of the company. It has also changed the valuation dynamics in the short term given the intense interest in the Albany Fraser Orogen. All companies that have gained tenement ground in the Fraser Range after Sirius' Nova discovery - have seen their share price and market valuations pushed skyward - very quickly.

Mining Projects Group should be no exception. With a market cap. of just $2.4 million ($0.01 share price), based on previous experiences, the share price could move to $0.02 in the short to medium term.

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