Northern Minerals Secures 100 Percent Ownership of John Galt Project

Northern Minerals (ASX:NTU) has secured 100 percent ownership of the John Galt project in the north of Western Australia.

As quoted in the press release:

In 2010, following a successful due diligence process, Northern Minerals signed an agreement with the tenement holder, Arnhem Resources, for the right to acquire 100% of the Project within a four year period (the Agreement). The Project, a strategic part of Northern Minerals’ asset base, has now been fully acquired following promising exploration results, and completion of a number of the commitments under the previously announced Agreement including a combination of cash payments and share distribution to Arnhem Resources.

The Project is located about 28km south of Warmun and 35km from the Great Northern Highway, and covers an area of 65km² within tenement E80/4298 in northern Western Australia. The Project is complementary to the existing Browns Range Project, containing a similar style of xenotime mineralisation with a high proportion of heavy rare earths, in particular the valuable element dysprosium. Exploration is ongoing at the Project with recent exploration, detailed below, showing encouraging results.

Click here to read the Northern Minerals (ASX:NTU) press release