Perth, Jan 14, 2009 AEST (ABN Newswire) - North Queensland Metals Limited (ASX:NQM) has acquired a suite of tin mining leases immediately to the north of NQM's EPM 14741 tenement at Herberton, in far north Queensland.
NQM has acquired the mining leases, which include Stannary Hills, from Nickelseekers Pty Limited, having paid $200,000 plus 1,000,000 shares in NQM.
Announcing the acquisition, Chief Executive Officer Mr John McKinstry said:
"Stannary Hills is well known for having been a large producer of high grade tin ore, and still contains significant mineralised zones. This acquisition completes a strategy commenced in 2007 to secure the most prospective tin exploration properties in the Herberton mineral field."
"While NQM's main goal for 2009 is to bolster its gold assets, tin remains an important element in NQM's portfolio. The fundamentals for tin remain strong even in the current economic climate."
NQM is the operator of the Pajingo gold mine (60% NQM ownership).
Contact
John D McKinstry
Chief Executive Officer
North Queensland Metals Limited
Email info@nqm.com.au
| ||
|
