Diatreme Resources Limited is an Australian based diversified mineral explorer with significant projects in WA, SA, VIC and QLD.
The Company seeks to develop the Cyclone Zircon Deposit in WA, through a joint venture arrangement, and conducts exploration over a number of project areas prospective for
heavy mineral sands, silica sand, copper and gold.
The Board and senior personnel exhibit wide experience, ranging through the exploration, development and financing phases of resource project management.
Australian Securities Exchange
Codes: DRX, DRXO
Board of Directors
Non-executive:
William Wang - Chairman
Andrew Tsang
Daniel Zhuang
Executive:
Neil McIntyre - Chief Executive Tuan Do - Chief Financial Officer Ian Reudavey - Chief Geologist
Joint Company Secretaries: Leni Stanley
Tuan Do
Key Projects:
• Cyclone Zircon Project
• Clermont Copper Project
• Cape Bedford Silica/HMS Project
• Tick Hill Gold Project
Diatreme Resources Limited Contact: Neil McIntyre - Chief Executive Phone: +61 7 3832 5666
Fax: +61 7 3832 5300
Share Registry:
Link Market Services Limited
Level 15, ANZ Building
324 Queen Street, Brisbane, QLD 4000#
18 September 2014
Diatreme Resources Limited (ASX: DRX) ("Diatreme" or "the Company") is pleased to announce that Perpetual Mining Holding Limited ("PMHL") has completed its initial farm-in commitment on the Cyclone Zircon Project (Project) through Diatreme's subsidiary company Lost Sands Pty Ltd (Lost Sands).
Under the Heads of Agreement (HOA) signed on 9 January 2014, between PMHL and Lost Sands, PMHL agreed to invest $2.0 million by way of a series of cash calls into the Project to earn six percent (6%) joint venture (JV) participating interest.
The Company received the final cash call amount of $250,000 under the
HOA on 16 September 2014.
The Chairman of Diatreme, Mr William Wang commented as follows:
"PMHL has shown its strong interest and support of the Project by the timely provision of their JV participating interest contributions through the various cash calls.
We thank them for their support to date and look forward to continuing to work together to ensure the Project's further good progress".
For and on behalf of the Board
Tuan Do
Joint Company Secretary
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