Variscan Retains Interest as Chalice Advances Callabonna Exploration.
Variscan Mines Limited (ASX: VAR) has provided an update on its Callabonna Project in South Australia, highlighting developments linked to a new earn-in arrangement involving Red Metal and Chalice Mining. The company continues to hold a 49% stake in Exploration Licence EL6318, with no changes to its ownership or existing rights. Under the proposed agreement, Chalice Mining will fund exploration work to gain exposure to Red Metal’s interest, including committing to initial drilling activities within the first year. This partnership is expected to fast-track exploration efforts, particularly across targets considered prospective for iron oxide copper-gold mineralisation. Variscan believes Chalice’s technical strength and funding support could significantly enhance project progress. The company also confirmed that its existing agreement with Red Metal remains intact and unaffected. The arrangement is still subject to Variscan’s approval, and the company intends to keep investors informed of any key developments going forward.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Variscan Retains Interest as Chalice Advances Callabonna Exploration.
Variscan Mines Limited (ASX: VAR) has provided an update on its Callabonna Project in South Australia, highlighting developments linked to a new earn-in arrangement involving Red Metal and Chalice Mining. The company continues to hold a 49% stake in Exploration Licence EL6318, with no changes to its ownership or existing rights. Under the proposed agreement, Chalice Mining will fund exploration work to gain exposure to Red Metal’s interest, including committing to initial drilling activities within the first year. This partnership is expected to fast-track exploration efforts, particularly across targets considered prospective for iron oxide copper-gold mineralisation. Variscan believes Chalice’s technical strength and funding support could significantly enhance project progress. The company also confirmed that its existing agreement with Red Metal remains intact and unaffected. The arrangement is still subject to Variscan’s approval, and the company intends to keep investors informed of any key developments going forward.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au