Australian diamond explorer
Caldera will grant Dasher a 5% interest in both projects to compensate for the latter’s expenditures incurred to date. Dasher will issue $20,000 of stock to Caldera and $8,500 of stock to a consulting geologist as a final settlement.
Dasher originally had the right to earn a 40% interest in these projects by spending A$160,000 on Bobbymia and A$140,000 on Tabletop West.
Dasher’s 5% interest will be free carried up to A$500,000 in expenditures, at which point the company may contribute its share or sell its interest, with Caldera having a right of first refusal.
Caldera is in discussions with other companies interested in diamond exploration.
Caldera has seven diamond exploration projects in Australia: four in the Pilbara region of northeastern Western Australia (Tabletop, Tabletop West, Gunanya and Bobbymia); a project in the Eastern Goldfields area of Western Australia (Yilgarn), which is subject to a joint venture with
In July, Caldera reported preliminary results from the Yilgarn project, where an aircore program tested 16 magnetic targets. Ten anomalies proved to be caused by ultrabasic intrusions while drilling in the remaining six intersected basement lithologies.
Geochemical results from 100 samples submitted for 28-element inductively-coupled-plasma analysis were received, and Caldera says that a comparison to literature values for kimberlite is “very encouraging,” particularly with respect to incompatible elements. All 10 targets show enrichment in alkali and rare-earth elements.
Caldera also completed its non-arm’s-length private placement for gross proceeds of $147,250. The financing consisted of 1.7 million shares sold at 8.5 per share.
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