The deal was earlier announced on 13 July 2012 and is now closed with an agreement stating royalty of A$2.00 is to be granted for every dry metric tonne for any ore mined and processed from the Kangaroo Caves tenement.
The mining site with copper and zinc deposits that was under the Panorama Exploration Joint Venture under the fore-mentioned partnership is said to be six kilometres south-east of Sulphur Springs Cu-Zn deposit and the miner’s proposed Sulphur Springs processing operation.
Venturex managing director Michael Mulroney said that this acquisition adds scale and value to their footprint in the broader Sulphur Springs region in the Pilbara.
"The deposit is a high priority exploration target with the potential to significantly add to the projected mine life of the proposed Pilbara Cu-Zn Project," added Mulroney.
