Drilling at the Georgia Lime Project. Source: Dominion Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Dominion Minerals (DLM) has secured an extension to the option period for the purchase of the Georgia Lime Project in the United States
  • The option period has been extended from January 26 to November 30 2022, giving DLM a further 10 months to undertake technical, economic and commercial evaluation
  • Following this, the company will make a decision whether to purchase the surface and mineral rights for US$1.5 million (A$2.07 million)
  • Results from recent diamond and rotary sonic drilling are being incorporated into a maiden mineral resource which is expected to be released early next year
  • Dominion is up 4.55 per cent with shares trading at 6.9 cents

Dominion Minerals (DLM) has secured an extension to the option period for the purchase of the Georgia Lime Project in the United States.

Held by Dominion’s US subsidiary, the Georgia Lime Project lies in southwest Georgia and has the potential to host a high-quality limestone deposit.

The option period has been extended from January 26, 2022, to November 30, 2022, giving Dominion a further 10 months to undertake technical, economic and commercial evaluation.

Following this, the company will make a decision whether to purchase the surface and mineral rights for US$1.5 million (A$2.07 million).

A payment of US$112,000 (A$155,241) has already been made to secure the extension.

Recent diamond drilling and a previous rotary sonic drilling campaign highlighted the potential for the Georgia Lime Project to host a large, high calcium limestone deposit.

These results are being incorporated into a maiden mineral resource which is expected to be released early next year.

Dominion was up 4.55 per cent with shares trading at 6.9 cents at 1:05 pm AEDT.

DLM by the numbers
More From The Market Herald

" New magnetic anomalies identified Alderan Resources (ASX:AL8) Frisco project

New magnetic anomalies were identified over Alderan Resources (ASX:AL8) Frisco copper-gold-zinc-silver project in Utah, USA.

" Desert Metals (ASX:DM1) initiates drilling at Belele and Innouendy

Desert Metals (ASX:DM1) has begun a five-hole reverse circulation (RC) program at the Belele project in…

" Tower (ASX:TWR) responds after natural disaster in Tonga

Insurance provider Tower (ASX:TWR) is in assessing the impact of the significant eruption of underwater volcano…

" Frugl (ASX:FGL) releases new grocery app update

Retail intelligence ecosystem Frugl (ASX: FGL) has released version 3.0 of Frugl Grocery, a free grocery…