The Independence Group NL (ASX:IGO) joint venture with Arrow Minerals, Plumridge Nickel has increased its exploration licence holding in the Fraser Range Province by over 160 kilometres via a successful ballot in three exploration licence applications.
The new tenement applications are located to the east of the existing joint venture exploration licences and are within 10-30km of Legend Mining Limited’s (ASX:LEG) Mawson, Magnus and Octagonal nickel-copper sulphide prospects.
In addition to increasing the size of the joint venture tenement licence area IGO has agreed to continue to free-carry Arrow’s 10 per cent interest in the joint venture until 31 December 2020.
Shares in the Independence Group NL (ASX:IGO) are trading 2.36 per cent lower at $4.34.
