SOLDIERS CAP & TRINGADEE PROJECT AREAS - NW QUEENSLAND
(EXCO 100% / BHP BILLION OPTION TO JV)
Copper, Gold
The Soldiers Cap JV area is located approximately 120kms south-west of Cloncurry, and covers a large area of prospective geology north of Cannington, similar to the Black Rock JV but comprising the deeper covered areas (see figure below).
Under the JV agreement, BHP Billiton is conducting ongoing exploration to earn the right to develop any subsequent discoveries under a royalty agreement with Exco of between 1 and 1.5% of Net Smelter Returns. BHP Billiton will earn no interest in the tenements unless a discovery is made and defined as a resource. Under the terms of the agreement, Exco retains the rights to copper and gold. No work was carried out during the past year and BHPB have indicated that they no longer have an interest in the majority of this area.