Caldera Resources (CDR-T) and Dasher Energy (DHR-V) have mutually terminated joint ventures on the Bobbymia and Tabletop West diamond projects in Western Australia’s Pilbara region.
In return for expenditures so far, Caldera will grant Dasher a 5% interest in both projects. Dasher will issue $20,000 worth of its shares to Caldera and will pay $8,500 worth of stock to a consulting geologist as a final settlement.
Dasher originally had the right to earn a 40% interest in the projects by spending A$160,000 on Bobbymia and A$140,000 on Tabletop West. The company spent a total of A$25,000.
Dasher’s 5% interests will be carried until A$500,000 has been spent. Then Dasher may decide to contribute its share or sell its interest. Caldera has a first right of refusal on Dasher’s interest.
The Bobbymia project, about 150 km east of the iron ore mining centre of Newman, consists of two exploration licences covering 39 sq. km. Aeromagnetic anomalies were identified there by a previous regional diamond exploration program.
Several of the anomalies are interpreted to have a probable pipe-like source.
The licenses are held jointly by Caldera and Dioro Exploration.
The Tabletop West project is located in the Great Sandy Desert, some 400 km east of Newman. Studies have identified areas in the region that are prospective for kimberlite and lamproite intrusions. Re-processing of regional aeromagnetic data and the recovery of kimberlitic chrome-spinels and microdiamonds have identified several targets for drill-testing.
Caldera is in talks with other interested parties.
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