Mantle Minerals (ASX:MTL) has received $13.5 million for the sale of its wholly owned subsidiary Mt Roe Mining to Northern Star Resources (ASX:NST).
Northern Star will have full ownership of Mt Roe Mining, comprising five tenements located north of Port Hedland in Western Australia.
As reported by Mining.com.au, Mantle opened a placement to raise $200,000 to streamline operations at its retained projects, Yule River and Pardoo.
Yule River will face geophysical targeting and drilling shortly while the Pardoo Project will also be drilled, with initial drill results expected to lead into resource definition drilling and mining studies for both projects.
Mantle Minerals is an Australian explorer focused on the Pilbara region’s gold and nickel assets in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Mantle Minerals
