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FENIX RESOURCES LTD — Interim / Quarterly Report 2017
Jan 30, 2017
64910_rns_2017-01-30_e19b6bc7-4e77-4a68-9ece-5ffe4c6ba792.pdf
Interim / Quarterly Report
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ASX QUARTERLY ACTIVITIES REPORT for the Period Ending 31 December 2016
REVIEW OF PROJECTS
During the December quarter Emergent Resources Limited ( EMG or the Company ) advised that the Company was unable to reach commercial terms with the vendors of the Hong Kong based copper recycling business as announced in early November 2016. Accordingly, the Company has ceased all negotiations and activities and will not be pursuing the potential acquisition.
The Company intends to conduct further assessment and field evaluation work at the Beyondie Iron Ore Project (E52/2215) in the near term as the Board continues to also evaluate acquisition opportunities.
FIELD ACTIVITIES TO COMMENCE AT BEYONDIE MAGNETITE PROJECT
Subsequent to the quarter on 16 January 2017 the Company advised that field activities at the Beyondie Magnetite Project (E52/2215), located south of Newman, will commence in early February.
Initial work will consist of drill hole rehabilitation followed by an assessment of the target magnetite horizons immediately along strike from the Beyondie Magnetite resource, held by Cosmopolitan Minerals Ltd. The review will include anomalies identified from 3D modelling of a magnetic dataset acquired from surveys over the deposit and immediately surrounding area.
The results of this work will aid in assessing the significance of the geophysical anomalies and to confirm whether drill testing of these targets is warranted. Prospecting will also be conducted in other areas of the project that are considered prospective for gold and copper resources.
CORPORATE
On 8 November 2016 the Company held its Annual General Meeting in Perth and all resolutions put to shareholders were carried on a show of hands.
The Company announced a change of Registered Office and Principal Place of Business with immediate effect on 8 of December 2016 to:
Principal and Registered Office
Unit 5, Ground Floor, 1 Centro Avenue Subiaco WA 6008
Postal Address
PO Box 510 Subiaco WA 6904
TENEMENT SCHEDULE
The Company’s interests in tenements is as follows:
| Location | Project | Tenement No. | Interest |
|---|---|---|---|
| Western Australia | Beyondie | E52/2215 | 80% interest in Iron Ore, Vanadium andManganese (20% De Grey MiningLimited) |
For further information please contact the Company on:
Bevan Tarratt
Non-Executive Director
(T) 08 9486 4036 (e) [email protected]