Explorer expands holding in promising belt
JUNIOR explorer Ram Resources has picked up another five tenements in WA’s Fraser Range nickel-copper belt, adding an extra 163 square kilometres to its holdings in the area. The newly acquired Fraser Range North tenements lie 150km north of Ram’s Fraser Range project and Sirius Resources’ Nova nickel-copper deposit. Under the deal signed with an unnamed private prospector, Ram will pay $40,000 now and a further $40,000 within six months, with a final payment of $50,000 per tenement due in two years if the company wants to claim a 100 per cent stake in the licenses. The vendor will retain a 1.5 per cent net smelter royalty. In a statement, the company said it would undertake an aggressive exploration program...