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IGO LIMITED Capital/Financing Update 2002
65111_rns_2002-11-21_238bd8b2-2959-42f8-a36a-f1affcd82325.pdf
Capital/Financing Update
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22 November 2002
Australian Stock Exchange Limited Company Announcements Level 10, 20 Bond Street SYDNEY NSW 2000
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GOLDSWORTHY JOINT VENTURE
The Company wishes to announce it has entered into a Joint Venture with Revesco Group Limited to explore two exploration licences (E45/2285 & E45/2286) located 90km east of Port Hedland.
The project lies in the Pilbara Block and is interpreted to contain the north eastern continuation of the gold prospective Indee Shear Zone cross-cutting Archaean mafic stratigraphy. The shear zone and associated splay faults are concealed beneath transported cover and have not been previously explored.
Independence can earn an 80% interest in the tenements by free-carrying Revesco Group Limited to the completion of a Pre-feasibility Study. Independence will also transfer exploration licences E45/2380 and E45/2381 into the Joint Venture on granting.
The Joint Venture is subject to Ministerial approval.
Imma
CHRISTOPHER BONWICK Managing Director
PO Box 893, South Perth. Western Australia, 6951 Phone: (08) 9367 2755 Facsimile: (08) 9367 3288 Email: [email protected] Website: www.independencegold.com.au