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syndicated metals ltd (SMD) Details

Syndicated Metals Limited engages in the exploration and evaluation of mineral properties in Australia. It primarily explores for gold deposits. The company holds a 100% interest in the Monument Gold project comprising 11 granted tenements that covers an area of 215 square kilometers located near Laverton in Western Australia. Syndicated Metals Limited was incorporated in 2005 and is based in Subiaco, Australia.

Founded in 2005

syndicated metals ltd (SMD) Top Compensated Officers

MD, CEO & Director
Total Annual Compensation: A$67.5K
Compensation as of Fiscal Year 2018.
syndicated metals ltd
Newfield Resources Limited Announces Syndicated Minerals Limited Progresses its Interest in Farming into the Newfield Gold Project

Newfield Resources Limited announced that Syndicated Minerals Limited has progressed its interest in farming into the Newfield Gold Project by: Making a further cash payment to Newfield of $25,000 upon satisfaction of all conditions precedent; and issuing to Newfield 30 million Syndicated Shares and 10 million Syndicated Options to purchase the right to earn up to 85% of the Newfield Gold Project. Under the terms of the farm-out agreement, Syndicated may now earn an initial 70% of the Newfield Gold Project by spending a minimum of $300,000 within the first 12 months, plus a further $600,000 within the following year. Syndicated has planned an exploration programme which it intends to commence next month. Newfield continues to maintain an interest in the potential of the Newfield Gold Project through its holding of Syndicated securities and the ultimate residual interest of 15% in the Project.

Newfield Resources Limited Announces Entered into an Agreement to Farm-Out its Interest in the Newfield Gold Project

Newfield Resources Limited announced that it has entered into an agreement to farm-out its interest in the Newfield Gold Project, which comprises tenements M77/422 and M77/846 (Newfield Gold Project). This project has become a non-core activity of Newfield as it focusses its attention on the development of the Tongo Diamond Project in Sierra Leone, West Africa. Under the terms of the agreement with Syndicated Minerals Limited, Syndicated has the right to earn up to 85% of the Newfield Gold Project. The terms and conditions of the agreement are summarized below: a) A cash consideration of $25,000 payable immediately; b) A further cash consideration of $25,000 payable on satisfaction of all conditions precedent; c) The issue of 30 million Syndicated Shares and 10 million Syndicated Options (Consideration Securities) to Newfield Resources to purchase the farm-in right. The shares will be issued at a deemed price of 1.0 cents per share. The Options will have an exercise price of 3.0 cents each and will expire 3 years after the date of issue. These Consideration Securities are escrow restricted for a period of 12 months from the date of allotment; d) Syndicated may earn an initial 70% of the Newfield Gold Project by spending a minimum of $300,000 within the first 12 months plus a further $600,000 within the following year e) Syndicated may then earn up to 85% by defining a JORC 2012 Mineral Resource estimate and delivering a Pre-Feasibility Study; and f) If Syndicated defines a JORC Mineral Resource estimate containing 150,000oz of gold, a further milestone payment of $250,000 (Contingent Consideration) is payable to Newfield. Newfield has the right to elect to receive the Contingent Consideration in cash or shares in Syndicated, such shares to be issued at a deemed issue price equal to the volume weighted average closing price of the Syndicated shares on ASX over the 10 trading days immediately prior to the date of the election.

Syndicated Metals Announces That It Has Secured an Outstanding New Growth Opportunity in Western Australia's Eastern Goldfields Through the Dual Acquisition of an Advanced Highgrade Gold Project

Syndicated Metals advise that it has secured an outstanding new growth opportunity in Western Australia's Eastern Goldfields through the dual acquisition of an advanced highgrade gold project and highquality regional exploration tenement package at the northern end of the Southern Cross Greenstone Belt. The Company has signed: A farmin agreement over the advanced Newfield Gold Project, an advanced highgrade exploration opportunity with previous production history; and A separate Option Agreement over the Carterton Gold Project, an adjacent, highly prospective exploration tenement (E77/2309) at the northern end of the Southern Cross Greenstone Belt. The dual agreements will give Syndicated a commanding position in a highly prospective yetunder explored portion of the worldclass Yilgarn Craton with immediate walkup drilling targets and a strong pipeline of highly promising exploration targets and opportunities. The Newington Project lies at the northern end of the Southern Cross Greenstone Belt, which is located around 380km east of Perth and hosts more than 150 known gold deposits which have produced over 15Moz of gold. The region has recently attracted strong interest following Ramelius Resources' major acquisitions in the area surrounding its operating Edna May Gold Mine, including the 1Moz Tampia Hill Project (acquired through its takeover of Explaurum Ltd) and the 0.5Moz Marda Gold Project. Newfield Project (Newfield Resources Limited): Under the terms of the farmin agreement, signed with Newfield Resources Limited, Syndicated has the right to earn up to 85% of the Newfield Project through: An initial payment of $25,000 in cash as an Option whilst due diligence is completed. Exercising the Option by payment of a further $25,000 in cash and issuing 30 million. Syndicated shares at a deemed price of 1.0c per share and 10 million Syndicated options to Newfield. The shares will be subject to a 12month escrow restriction and the Options will have an exercise price of 3.0c each and a 3year expiry term from the date of issue. Completion of staged farmin exploration of $900,000 over two years. On reporting a JORC Mineral Resource estimate containing >150,000oz of gold, a further milestone payment of $250,000 is payable to Newfield Resources. Carterton Project (Gateway Mining Limited): Syndicated Metals has also obtained an option to purchase the Carterton Gold Project (tenement E77/2309) from Gateway Mining based on the following consideration: 12month Right to Purchase $10,000 cash; Optional 12month extension $10,000 cash; Maintaining the tenement in good standing for the duration of the option period; Purchase price of $300,000 cash or shares (based on the 5day VWAP at the date of execution of the option) plus a 1.5% royalty. Completion of these transactions is conditional on the satisfaction or waiver of industry standard conditions precedent. NEWINGTON PROJECT DESCRIPTION: The acquisition of the Newfield and Carterton Projects is the result of an extensive review of multiple projects across Western Australia where Syndicated targeted large areas of largely unexplored Archean Greenstone Belt that also had strong indications of the potential for development of highgrade gold systems. Key factors driving the selection of the Newfield and Carterton Projects include: The northern extension of the Southern Cross Greenstone Belt is considered particularly under explored. The southern 75% of the Belt has a gold endowment of +15Moz of gold, while the northern 25% currently lacks any major discovery. The production history and existing drilling data from the Newfield prospects demonstrate that a highgrade gold system is present. This is demonstrated by historical production from the Newfield Central deposit of 41,039 tonnes at a recovered grade of 24.53 g/t Au for 32,366 recovered gold ounces. The highgrade gold mineralisation at the Newfield prospect remains open in all directions and drilling has also identified the potential for parallel and crosslinking structures. Additional targets identified in drilling include: Newfield East Prospect: 13m @ 4.47g/t Au from 8m (ENFRC01); 6m @ 3.79g/t Au from 23m (ENFRC07); 12m @ 2.13g/t Au from 56m (97RC02); Dawson Prospect: 3m @ 11.03g/t Au from 51m CSRC021); 4m @ 16.60g/t Au from 83m (incl. 2m @ 29.95g/t Au) (CSRC031); 1m @ 20.01g/t Au from 105m (CSRC036). The Newfield Central deposit is contained within a highgrade (Norsemanstyle) laminated quartz reef, within the Newfield Central Fault Zone. The Gateway Option ground covers the immediate northern extension of the Newfield gold mineralisation under cover to the north as well as covering 21 strike kilometres of the greenstone belt. The majority of previous exploration across the wider project area has focused on base metal exploration. Whilst not a priority, the project is considered prospective for nickel, copper and lithium. Extensive zones of transported cover has limited the effectiveness of historical prospecting activities and therefore has not provided early exploration targets. The core part of the Newington Project is covered by the granted Newfield Mining Leases (M77/422 and M77/846).

 

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