Thunderbird is go in Arunta

FRONTIER explorer ABM Resources says after four months, the conditions precedent of an exploration agreement with privately held explorer Thunderbird Metals is nearing completion, although the deadline for Thunderbird to raise A$500,000 has been extended until March 31.

Thunderbird is go in Arunta Thunderbird is go in Arunta Thunderbird is go in Arunta Thunderbird is go in Arunta Thunderbird is go in Arunta

Last October ABM struck an agreement with a trio of PhD geologists – Cygnus Gold directors Dr Oliver Kreuzer; former Gossan Hill Gold CEO Dr Kris Butera and Birimian exploration director Dr Andy Wilde – to prospect its speculative but prospective ground in the Northern Territory’s Arunta mineral province. 

Thunderbird could earn a 70% interest in the ground by spending A$6.5 million over 4.5 years, and would issue a 5% stake to ABM if it listed.

The terms have been amended, dropping the share issue requirement, but allowing ABM to be free-carried through to completion of a bankable feasibility study and a decision to mine on any of the tenements comprising the North Arunta project, while allowing ABM to focus on its 21,000sq.km Tanami assets.

Thunderbird only needs ...