Business

Firebird Teams Up with Macro Metals for Manganese Tenement Deal

Jul 23, 2024 1 min read

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Juggernaut Exploration Ltd (JUGR.V) has commenced a drilling program on its wholly owned Bingo property after discovering multiple new sulphide-rich outcrops. The program has been expanded to approximately 3,000 meters of drilling planned across 14 holes within the Bingo Main Zone. The drilling will focus on expanding the strike and depth of known high-grade gold-silver-copper mineralization, as well as testing newly identified cobalt-rich and native copper outcroppings. The discovery of high economic cobalt values on the surface has led to a 20% increase in the calculated AuEq values of the 2023 drill core assay results.

Firebird Metals Limited (ASX: FRB) has entered into an agreement with Macro Metals Ltd for the development of its Wandanya, Disraeli, and Midgengadge tenements. Under the agreement, Macro will invest $150,000 within the first 12 months and conduct a 10-hole RC drill program, with Firebird retaining a 20% interest in these projects until a decision to mine is made. Firebird will also receive a 1% sales commission. This partnership is intended to maximize the potential of the tenements while minimizing immediate capital expenditure for Firebird, allowing it to focus on its Oakover Project and other strategic initiatives. The transaction is contingent upon the satisfaction of due diligence and regulatory or third-party consents by September 30, 2024.

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