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The company’s key focus is Iron-Oxide-Copper-Gold deposits in the Mt Isa and Gregory regions.
Newly appointed Managing Director Peter Spiers explains why the company has chosen to focus its exploration in this region.
“There are two key drivers that we believe lead to shareholder value,” says Mr Spiers.
“The first is that we believe you should be exploring in regions that have a high mineral endowment, and the Mt Isa regional certainly is a world class mineral province.
“Secondly we believe that you need to explore in regions where you have some sort of first-mover advantage; where you’re first into the area or applying new technology.
“And we believe the Mt Isa tenements in particular give us both a first-mover advantage and exposure to a world class mineral province.”
Mt Isa Metals has acquired a package of tenements which cover approximately 7,000km2 of highly prospective ground with significant coincident gravity and magnetic anomalies.
“Our tenement position was put together over two years ago by the project generation team in the D’Aguilar Gold group,” Mr Spiers says. “Their main focus was looking for areas that were either unexplored, or where there had been past exploration that was ineffective.
“The key points of interest on our northern tenements such as Gregory and Normanton - where we’re looking for IOCG systems - are large magnetic and gravity anomalies. We believe these signatures are indicative of buried IOCG systems at depth.
“In addition to the IOCG systems, we also have a number of other high-potential targets throughout the Mt Isa and north Queensland region,” Mr Spiers continues.
“We have the Toolebuc project which is a greenfield uranium project in the centre of the Great Artesian Basin. We have a number of high-potential zinc and copper opportunities within the Mt Isa inlyer closer to the town of Mt Isa,” Mr Spiers says.
“In addition we have a very exciting phosphate project known as the D-Tree West project."
The D-Tree deposit is a substantial sedimentary phosphate deposit that was discovered in the mid 1960s.
Global rock phosphate prices have risen sharply over the past two years such that these historical discoveries are now receiving detailed re-assessment.
The Mt Isa Metals tenement application overlies the western half of the D-Tree deposit. Mt Isa Metals has defined a significant inferred resource within its D-Tree West Project based on the historical drilling.
The Company’s initial focus will be on step-out drilling to extend the resource base and on the review of commercial opportunities
Mt Isa Metals is a spin-off of parent company D’Aguilar Gold. However while the company is supported by the resources of the D’Aguilar Group, it plans to list independently on the Australian Securities Exchange following an Initial Public Offering in June 2008, as Peter Spiers explains.
“It will be for an amount of $7 million,” says Mr Spiers. “We’re proposing to issue 35 million shares at 20cents each. Subsequent to the IPO, parent company D’Aguilar will hold 48.2 per cent of the group, and we’ll also have the support of UK-based RAB Capital Plc which at this point will hold a 10.8 per cent stake in the company.
“The $7 million that we raise through the IPO process will give us a fully funded two-year exploration programme,” Mr Spiers continues. “A large percentage of that will be spent in the ground, on both drilling and major geophysical surveys to target IOCG systems.”
Peter Spiers is a base metals expert who brings over 20 years of experience in the minerals exploration business to his role as Managing Director. Nick Mather, the CEO of the D’Aguilar Gold group says Peter Spiers was an obvious choice for the job.
“We were attracted to Peter because of his training in a large resource exploration development company Western Mining,” says Mr Mather. “He’s technically a geologist, but he’s got some great business applications as well.”
Nick Mather is to join Peter Spiers on the board of Mt Isa Metals, which has made two other recent signings.
“We’re very happy to have appointed John Bovard who’s a civil engineer with a long history in the resources sector to the role of Non-Executive Chairman,” says Peter Spiers.
“In addition, a senior associate from Hopgood Ganam law firm, Michele Muscillo, has joined the board as a Non-Executive Director. Together with Nick Mather and myself we have many, many years of experience in the resources sector in terms of exploration, project management, operations, and mergers and acquisitions.
Following the completion of the Mt Isa Metals IPO, Peter Spiers expects to get straight down to work with the company’s extensive exploration programme.
“We’re very excited about the future for Mt Isa Metals,” Mr Spiers says.
“We have a very large tenement holding in a premier mineral province; the Mt Isa region of north west Queensland. We have a full two-year exploration programme, and we have a number of high priority exploration opportunities and advanced targets such as the D-Tree West phosphate deposit as well.
“It’s a full programme for us and we’re seed funded such that we’ll be able to hit the ground running in terms of exploration programmes in the latter half of 2008.”
Newly appointed Managing Director Peter Spiers explains why the company has chosen to focus its exploration in this region.
“There are two key drivers that we believe lead to shareholder value,” says Mr Spiers.
“The first is that we believe you should be exploring in regions that have a high mineral endowment, and the Mt Isa regional certainly is a world class mineral province.
“Secondly we believe that you need to explore in regions where you have some sort of first-mover advantage; where you’re first into the area or applying new technology.
“And we believe the Mt Isa tenements in particular give us both a first-mover advantage and exposure to a world class mineral province.”
Mt Isa Metals has acquired a package of tenements which cover approximately 7,000km2 of highly prospective ground with significant coincident gravity and magnetic anomalies.
“Our tenement position was put together over two years ago by the project generation team in the D’Aguilar Gold group,” Mr Spiers says. “Their main focus was looking for areas that were either unexplored, or where there had been past exploration that was ineffective.
“The key points of interest on our northern tenements such as Gregory and Normanton - where we’re looking for IOCG systems - are large magnetic and gravity anomalies. We believe these signatures are indicative of buried IOCG systems at depth.
“In addition to the IOCG systems, we also have a number of other high-potential targets throughout the Mt Isa and north Queensland region,” Mr Spiers continues.
“We have the Toolebuc project which is a greenfield uranium project in the centre of the Great Artesian Basin. We have a number of high-potential zinc and copper opportunities within the Mt Isa inlyer closer to the town of Mt Isa,” Mr Spiers says.
“In addition we have a very exciting phosphate project known as the D-Tree West project."
The D-Tree deposit is a substantial sedimentary phosphate deposit that was discovered in the mid 1960s.
Global rock phosphate prices have risen sharply over the past two years such that these historical discoveries are now receiving detailed re-assessment.
The Mt Isa Metals tenement application overlies the western half of the D-Tree deposit. Mt Isa Metals has defined a significant inferred resource within its D-Tree West Project based on the historical drilling.
The Company’s initial focus will be on step-out drilling to extend the resource base and on the review of commercial opportunities
Mt Isa Metals is a spin-off of parent company D’Aguilar Gold. However while the company is supported by the resources of the D’Aguilar Group, it plans to list independently on the Australian Securities Exchange following an Initial Public Offering in June 2008, as Peter Spiers explains.
“It will be for an amount of $7 million,” says Mr Spiers. “We’re proposing to issue 35 million shares at 20cents each. Subsequent to the IPO, parent company D’Aguilar will hold 48.2 per cent of the group, and we’ll also have the support of UK-based RAB Capital Plc which at this point will hold a 10.8 per cent stake in the company.
“The $7 million that we raise through the IPO process will give us a fully funded two-year exploration programme,” Mr Spiers continues. “A large percentage of that will be spent in the ground, on both drilling and major geophysical surveys to target IOCG systems.”
Peter Spiers is a base metals expert who brings over 20 years of experience in the minerals exploration business to his role as Managing Director. Nick Mather, the CEO of the D’Aguilar Gold group says Peter Spiers was an obvious choice for the job.
“We were attracted to Peter because of his training in a large resource exploration development company Western Mining,” says Mr Mather. “He’s technically a geologist, but he’s got some great business applications as well.”
Nick Mather is to join Peter Spiers on the board of Mt Isa Metals, which has made two other recent signings.
“We’re very happy to have appointed John Bovard who’s a civil engineer with a long history in the resources sector to the role of Non-Executive Chairman,” says Peter Spiers.
“In addition, a senior associate from Hopgood Ganam law firm, Michele Muscillo, has joined the board as a Non-Executive Director. Together with Nick Mather and myself we have many, many years of experience in the resources sector in terms of exploration, project management, operations, and mergers and acquisitions.
Following the completion of the Mt Isa Metals IPO, Peter Spiers expects to get straight down to work with the company’s extensive exploration programme.
“We’re very excited about the future for Mt Isa Metals,” Mr Spiers says.
“We have a very large tenement holding in a premier mineral province; the Mt Isa region of north west Queensland. We have a full two-year exploration programme, and we have a number of high priority exploration opportunities and advanced targets such as the D-Tree West phosphate deposit as well.
“It’s a full programme for us and we’re seed funded such that we’ll be able to hit the ground running in terms of exploration programmes in the latter half of 2008.”
