31-Jul-03 - Image Resources NL
Has entered into a joint venture with Troy Resources NL on a package of Image’s Western Australian projects. The package comprises 560 sq km of tenements and includes 100%-owned projects at Woongaring, Adam Range and Scorpion Well and the Mt Zephyr JV. Under the terms of the agreement Troy can earn a 60% interest in the tenements (45% in the case of the Mt Zephyr JV) by means of cash payments totalling $75,000 and sole funding $2 million of expenditure within five years.
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