JOGMEC and Mincor Resources Co-explorate Pb, Zn in Australia

Japan Oil, Gas & Metals National Corporation (JOGMEC), an incorporated administrative agency to assist upstream activities for mineral resources and energies, announced on Monday the agency concluded a co-exploration contract with Mincor Resources, Australian middle-class mining company. They started a joint venture exploration for lead and zinc in Georgina Basin area, Northern Territory, Australia.JOGMEC will pay AUD 2.5 million for the JV and acquire 25% shares in the project during next 2 years. If JOGMEC additionally pays AUD 2 million as the exploration expenditure in the third year, the agency will be able to gain 15% shares as well as existent 25%.Georgina Basin area is on the Southern rim of Georgina depositional basin, Northern Territory, 200-300 kilometers northeast from Alice Springs. The Basin is composed by 7 exploration areas with total 9,500 square kilometers. The transcontinental railroad opened in 2004 from Alice Springs to Darwin.Mincor Resources is headed in West Perth, Western Australia. The company operates 7 nickel mines in Kambalda area, south of Western Australia while holds shares in several exploration and development projects for nickel, copper, lead and zinc in Australia, Ireland and South Pacific Ocean area.