Mt Guide Joint Venture - Base Metals and Gold

The Mt Guide Joint Venture is located 35 kilometres south of Mt Isa and covers the southern strike extension of the stratigraphy that hosts the world class Mt Isa, Hilton and George Fisher base metal deposits.

Glengarry has a 10% free carried interest in the Project which was previously subject to a JV agreement with Summit Resources.  Exploration is now being managed by unlisted UK company MM Mining Plc (MMM) which has negotiated an agreement to acquire Summit’s equity in the Joint Venture. 

MMM completed a heli-borne VTEM survey in June 2008.  Data from the survey which covered the Isa Fault Zone with lines 200 metres apart will be used to target specific areas for follow up exploration.  Geological mapping will also be completed to assist with the interpretation of the geophysical data.