InterMet Resources has signed a joint venture with Eromanga Uranium to further explore its Abminga Project in South Australia.

InterMet believes the Abminga area is prospective for iron oxide copper gold and uranium mineralization (IOCGU). It is about 90 km north-east of the township of Marla in the north of South Australia and is 983sqkm in area.

Abminga is along the interpreted northern margin of the Gawler Craton within a similar setting to other IOCGU deposits on the Gawler Craton.

Under the joint venture, Eromanga can earn up to an 80% interest in the project from InterMet by spending $500,000 on exploration. Eromanga may withdraw at any time after an initial appraisal period provided it has spent at least $50,000.

InterMet managing director Gary Ferris says: “The joint venture with Eromanga highlights the prospectivity of the project and complements Eromanga’s Northern Gawler Craton IOCGU initiative.

“Eromanga is drilling two deep diamond holes on their Welbourn Hill Project about 30km to the south-west and Abminga represents another potential IOCGU target.”

A gravity survey is planned at Abminga shortly.

www.intermetresources.com.au