Gold and base metals explorer Auris Minerals (ASX:AUR) will resume an 80% interest in the Morck Well and Doolgunna projects.
The company reports it has now received formal notification from Sandfire Resources (ASX:SFR) of its withdrawal from the joint venture (JV) effective 19 January 2023.
Auris entered a farm-in agreement with Sandfire in February 2018 in relation to the Morck Well and Doolgunna projects with Sandfire having the right to earn a 70% interest in each project.
CuFe (ASX:CUF) retains a 20% interest in the Morck Well JV and is free carried until a decision to mine
CuFe (ASX:CUF) retains a 20% interest in the Morck Well JV and is free carried until a decision to mine.
Sandfire is currently compiling all reports and exploration data for handover to Auris. Upon receipt of all information, Auris will conduct a detailed review of all data suites to determine next steps and future exploration plans.
Auris says it is pleased to retain control of the Morck Well JV and is encouraged by the exploration success achieved to date, with several high-quality gold and base metals targets identified within the project area.
Write to Adam Orlando at Mining.com.au
Images: Auris Minerals Ltd
