Base metals prospector Force Commodities (ASX:4CE) has announced it has received the go-ahead from the NSW government to explore the high-grade Halls Peak-Gibson lead-zinc project, located in the State’s north-east region, with the renewal of two exploration licenses.
The license renewals are each for a period of six years and offers a complementary base metals project to its Malawi-based Tshimpala Project, which the Company is currently acquiring an initial indirect 51% majority interest.
The Halls Peak-Gibson project has returned some exceptionally high-grade results of up to 46% zinc and 27.2% lead.
The region is renowned for high-grade, small tonnage (less than 30,000 tonnes) massive sulphide DSO operations.
The two licenses cover an area of approximately 84km2 with EL 4474 is held 100% by the Company and EL 7679 held is held by Sugec Resources Limited, a 55% owned subsidiary to Force Commodities.
Commenting on the renewal of the Halls Peak-Gibson Project licenses, Force Managing Director Mr Jason Brewer said:
“The Company has spent a considerable amount of time and effort to have these licenses renewed and is extremely pleased to have now received the confirmation from NSW Mines Department.
“The Company has previously completed two-phases of drilling at the Halls Peak-Gibson Project and reported some spectacular high-grade assay results which confirmed the existence of numerous thick, high-grade mineralised zones of zinc, lead, copper, silver and gold.”
With the licences renewed Force has said it will undertake a desktop review of the extensive historical data available and develop a next-phase of exploration.
The company has confirmed that its exploration will likely include diamond drilling, targeting a maiden JORC resource and potential additional extensions to the mineralised high-grade zones.