Taione Pelaki working the drill as the company continues Phase 2 of its exploration at Udu Point. Photo: MATAI HOLDINGS LIMITED
By RANOBA BAOA
Additional information from CONTO
RESOURCES LIMITED
Phase 2 of the Nukudamu Polymetallic Metal Project on Udu Point has commenced.
This was made possible through the mining merger of Australian exploration mining company, Conto Resources Limited, which recently approved the venture with Dateline Resources Limited.
As a result an injection of $6.2 million from Conto Resources will assist in the expanded exploration and drilling programme at Udu Point.
The acquisition of Dateline Resources Ltd was finalised during a general meeting of Conto Resources shareholders on April 15 at the Melbourne Hotel in Perth, Australia.
Dateline Resources, through its Fijian company Matai Holdings (Fiji) Limited, is the owner operator of the Udu Point project.
The site is said to have high volumes of prospective copper and zinc deposits.
Testing mineralised systems
In a release issued last month under the Australian Securities Exchange, which Conto Resources is listed, Phase 2 work programme is designed to test the extent of the mineralised system.
“The various geophysical techniques employed in Phase 2 will provide the company with an improved three-dimensional geological framework within which to interpret and target drilling in and around the mine area,” the release stated.
Phase 1 of the exploration programme was to establish on site facilities and project infrastructure to support a comprehensive exploration programme.
This is to test strike and depth extensions at the Udu Project in Phase 2 around the historical Udu Mine and exploration targets in the immediate vicinity.
Conto Resources expertise
Meanwhile through the merger, Dateline Resources chairman Mark Johnson will be chairman of the Conto Resources.
“The merger with Conto brings technical expertise and access to capital markets to Dateline and substantially increases our resources as we continue our exploration,” said Mr. Johnson.
“This means that if our work proves successful we are now better positioned to move quickly towards the development of a mine.”
About Conto Resources
Conto Resources Limited was initially established to acquire, explore, evaluate and exploit gold deposits at its Lone Wolf & Cardinia Bore Projects.
It also explores prospective gold tenements and other minerals.
The company works to pursue new projects in the resources sector, both in Australia and overseas, by way of acquisition or investment.
These projects may include other types of minerals including, without limitation, coal, iron ore, copper, gold, manganese, tin, nickel, potash and tungsten.