Company: GRENFELL RESOURCES
State: MELBOURNE, VICTORIA / PERTH, WESTERN AUSTRALIA
GRENFELL RESOURCESí GOOD PROSPECTS IN INDIA
Grenfell Resources Limited, GRN, is a junior Australian mining company based in Melbourne, with gold interests in the Gawler Craton in South Australia. In 1998, GRN began exploring approximately 10 000 kilometers of prospective base metal tenements in Rajasthan, in the North West of India. It entered a memorandum of understanding to acquire the 75 per cent interest in the tenements held by junior Canadian mining company, Meridian Peak Resources Corporation, by funding all exploration up to discovery. To date, GRN has planned and conducted aeromagnetic surveys, completed a geological and structural interpretation and completed two substantial programs mapping and sampling target areas. The next stage is to consolidate prospective lease areas and raise capital to adequately test these areas.
GRN remains enthusiastic about its chances of discovery in Rajasthan, where it considers significant world class deposits remain to be found. GRN emphasises the importance of operating in conjunction with an established Indian company, to facilitate field activities and deal with the intricacies of local politics and the bureaucracy. GRN is also encouraged by mining policy progress elsewhere, including in Karnataka and Andhra Pradesh, which are relatively progressive in attracting investor interest.
Source: Grenfell Resources Limited, 2001.