Abra Mining farms into Apex's Jillawarra project

Abra Mining Ltd has taken over the farm-in rights of Perilya Ltd to Apex Minerals' NL Jillawarra project in the same area as Abra's multi-resource project, near Meekatharra in Western Australia's northern goldfields region.
In addition, one year will be removed from the timeframe for Abra's stage-by-stage arrangement to assume up to 70 per cent of the project.

It is seen as a positive development for the project as Abra has a strong focus on this region and has the financial and technical resources to move the project forward.

Under the amended terms of the Jillawarra joint venture, Abra can earn a 51 per cent interest via the expenditure of $500,000 on exploration prior to April 28 2008, and has the right to increase its interest to 70 per cent by spending an additional $850,000 by April 2010.

In regards to Jillawarra, the joint venture refers to an area of approximately 1,500 square kilometres including granted exploration licence E52/1413 immediately to the west of Abra's Mulgul project.


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