Anglo American Terminates Joint Venture on Copper Creek Arizona Project
[Click image to enlarge]
[Click image to enlarge]
Redhawk Resources, Inc. has been provided with a formal notice of termination dated October 28, 2016 by Anglo American US Holdings Inc. in regard to the joint venture through which the parties have been performing exploration and development of the copper-molybdenum project in San Manuel, Arizona (Copper Creek Project) pursuant to an agreement dated as of November 25, 2014. As a result of the termination, as of October 28, 2016 Anglo American will cease to have any interest in the Copper Creek Project and the project will be 100 percent owned by Redhawk.
“The joint venture with Anglo American enabled the company to retain the entire Copper Creek Project and advance our knowledge of the project through approximately US$7m in expenditures during a challenging period for the base metals mining sector. The main focus during the past two years has been regional exploration primarily in portions of the expansive property that had not previously been reviewed. Our focus will now turn back to advancing the development of the existing large resource and considering alternative strategies. We thank Anglo American for their interest, assistance and efforts during the past two years,” said Joe Sandberg, president and CEO of Redhawk.
About Redhawk
Redhawk is a Canadian-based resource exploration and development company with a new focus on the advancement of copper projects, including copper/cobalt projects in Africa, as well as the continued advancement of the Copper Creek Project in San Manuel, Arizona. The copper/cobalt projects in Zambia, which the company has the right to earn an interest in through an option agreement with Copperzone Resources Ltd., consists of approximately 779 km² of prospective copper/cobalt property. The Copper Creek Project consists of approximately 75 km² of contiguous patented and unpatented mining claims and state prospecting permits, located about 112 km northeast of Tucson, Arizona.
To stop by Redhawk’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
