Glengarry chases base
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Tuesday, 31 August, 1999 - 22:00
Like many gold explorers currently, Glengarry Resources NL has joined the hunt for a base metals project.
In its latest quarterly report, the company announced plans to diversify into the base metal exploration arena.
In this respect, large blocks of ground have been applied for over prospective polymetallic areas locat-ed south of Mt Isa and west of Greenvale in Queensland, respectively known as the Diamantina Hinge Zone and the Horse Mountain projects.
Glengarry managing director Andrew Chapman said low cost research and preliminary ground investigation should greatly enhance the potential and prospectivity of these areas.
This diversification plan will be undertaken while Glengarry remains an active player in the Larranganni gold project.
Meanwhile, an aggressive review of the cost structures of the company has been completed with a resultant reduction in staff and a significant decrease in administrative costs.
However, the key components of the established management and technical team were retained.
In its latest quarterly report, the company announced plans to diversify into the base metal exploration arena.
In this respect, large blocks of ground have been applied for over prospective polymetallic areas locat-ed south of Mt Isa and west of Greenvale in Queensland, respectively known as the Diamantina Hinge Zone and the Horse Mountain projects.
Glengarry managing director Andrew Chapman said low cost research and preliminary ground investigation should greatly enhance the potential and prospectivity of these areas.
This diversification plan will be undertaken while Glengarry remains an active player in the Larranganni gold project.
Meanwhile, an aggressive review of the cost structures of the company has been completed with a resultant reduction in staff and a significant decrease in administrative costs.
However, the key components of the established management and technical team were retained.