Overview
The Three Rivers Project is located in the Greenvale district in North Queensland, and consists of EPM11223, EPM10680 and EPM10866. Greenvale is approximately 200 kilometres northwest of Charters Towers and 100 kilometres west of Ingham. EPM11223 contains the now closed Greenvale Nickel lateritic nickel- cobalt operation.
Straits Resources Limited has the right to earn a 70% participating interest by expending up to $1 million on exploration over a period of three years. Their present interest lies in the potential for remnant nickel laterite mineralisation around the historical Greenvale Nickel Laterite Mine.
Following the completion of the last round of reverse circulation drilling Straits has met their minimum expenditure to earn 70% participating interest in the JV. Straits require three months to decide whether to move towards acquiring a 90% participating interest.
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