Australian firm TNG has secured new exploration licence in the Northern Territory, expanding its copper exploration portfolio.
The new exploration licence, which is located in the Mount Doreen area, covers a total area over 220km2 and and consists of occurrences of copper mineralisation with grades from recent rock chip sampling of up to 21% copper.
The licence also includes significant outcrop and undercover extensions of the prospective Lander Group rock formation, which hosts copper and gold mineralisation in the area.
TNG's managing director Paul Burton said that the licence contains highly prospective copper exploration targets in a region that is relatively underexplored due to transported cover material, but has demonstrated geological potential to host significant copper mineralisation.
The firm is expecting to speed up its copper exploration activities in 2012, and is also planning to progress the Mount Peake vanadium project.