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Niuminco Group: Acquires interest in FNQ mining leases

October 1, 2020

Niuminco Group (NIU) has agreed to acquire a 90 per cent interest in three mining leases in Far North Queensland
The leases cover an area of just over one square kilometre, within the Calcifer Mineral Field in Chillagoe
In particular, the leases are approximately 25 kilometres south-east of the significant Red Dome and Mungana gold/base metal deposits
In consideration for the acquisition, Niuminco will pay $60,000 on the agreement’s first anniversary of execution
The company must also manage an exploration program with committed expenditure amounts per year
Niuminco Group closed in the grey for 0.1 cent per share