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Freeport Resources Provides Update on Wardens Hearing on Renewal of Exploration License for Yandera Copper Project
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Freeport Resources Inc. (TSX...
About this update from Freeport Resources Inc.
[{"type":"text","content":"Freeport Resources Provides Update on Wardens Hearing on Renewal of Exploration License for Yandera Copper ProjectVancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) (\"Freeport Resources\" or the \"Company\") is pleased to provide an update on the Wardens Hearing process for the renewal of Exploration License EL1335 which covers the 245.5 square kilometer concession comprising the Yandera Copper Project, located in Papua New Guinea (\"PNG\").The Wardens Hearing for EL 1335, which is a mandatory part of the renewal process for all exploration licenses for PNG, took place on May 29, 2023 at Yandera, with all principal landowners present. The meeting was conducted by senior Mineral Resources Authority (\"MRA\") Mining Warden Mr. Kopi Wapa. The communities and landowners were supportive of renewal of EL 1335 and look forward to the advancement of the Yandera Copper Project.The Yandera Copper Project is within EL 1335, which is administered by the MRA under the Mining Act of 1992 of PNG. Renewals of exploration licenses are two-year terms. This Wardens Hearing was for the renewal of EL 1335 for the term ending on November 19, 2023, as well as the application for a renewal extending the term of EL 1335 through November 19, 2025. The Yandera Copper Project is located 95-km southwest of the capital city of Madang Province and 235-km to the northwest of Lae which is the largest port city in PNG and an important industrial center. As one of the largest undeveloped copper reserves* in the world, the Yandera Project has the potential to support communities and create jobs along the Yandera Corridor. The Company anticipates the potential economic influence of the Yandera Copper Project could span 5 provinces and create wealth for generations including, but not limited to, strategic road and highway building, power generation and related infrastructure. Freeport Resources is committed to the responsible development of the Yandera Copper Project, ensuring that all activities are conducted in a safe, ethical, and environmentally sustainable manner. About the Yandera Copper ProjectThe Yandera Copper Project is located in the highly prolific PNG Orogenic Belt in the same geological arc as some of the world's largest gold and copper deposits including Grasberg, Frieda ...