Lycaon Resources (ASX:LYN) secured a ballot for a tenement, one of four applications, situated next to the Marble Bar and DOM's Hill projects owned by Kali Metals (ASX:KM1) and Sociedad QuÃmica y Minera de Chile, the miner said in a Monday filing with the Australian bourse.
The tenement comprises the historic copper-gold prospect Myrnas Hill, which yielded rock chip samples with up to 42.8% copper, 7.05% copper, and 6.49 grams per tonne of gold, it said.
Shares of Lycaon Resources rose nearly 6% at market close.
Price (AUD): $0.27, Change: $+0.02, Percent Change: +5.88%
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