On 16 February 2009, Oxley Resources Limited purchased 50% of Intec Exploration Pty Ltd (IEPL) by the issue ordinary shares and options to Intec Ltd (ASX Code: INL). In addition the Company provided a loan to IEPL. In February 2010 Oxley acquired the remaining 50% interest in IEPL.
IEPL has interests in two Mineral Tenements:
- Syerston – Fifield EL 7263
A licence flanking the western and north-western boundary of Ivanplats’ Syerston lateritic Ni/Co project. Covers the western part of the Tout intrusive. ASX listed Rimfire are working very actively just to the south and coming up with some interesting results.
- Young – EL 7019
A licence flanking the western boundary of Jervois’ Young lateritic Ni/Co project. The licence was taken out to explore for extensions of the Ni/Co horizons outside of the Jervois ground. Work on this tenement by Oxley downgraded the potential for a shallow low cost nickel deposit and the Board decided to relinquish the tenement in January 2010.
|
