CANADA

MEI holds a portfolio of seven cobalt projects in Ontario, Canada – six located in eastern Ontario, an area historically known for silver and cobalt production and one in west Ontario, targeting high-grade cobalt-copper-gold mineralisation.

These projects are currently under a review status and as such, no immediate work is planned.

In addition, MEI has entered an agreement to sell its Midrim and La Force Cu-Ni-Co-PGE Projects in the Belleterre-Angliers Greenstone Belt in Quebec to ASX-listed Rafaella Resources.  

Australia

In Australia the Company holds interests in the following projects:

Webb Diamond JV, Western Australia 

Ownership: 18% MEI / 82% Geocrystal Pty Ltd (*MEI 13% of E80/4506)  

The Webb Diamond JV covers an area of 400km2 and is focussed on the evaluation of a large kimberlite field comprising 280 bulls-eye magnetic targets. 23% of these targets have been drill tested with 51 kimberlite bodies identified.

Warrego North IOCG Project, Northern Territory

The Warrego North Project is located approximately 20km north west of the historical high-grade Warrego copper-gold mine, in the western part of the Tennant Creek Mineral Field.

Warrego was the largest deposit mined in the area producing 1.3Moz Au and 90,000 tonnes of copper historically.

Chalice Gold Mines Limited (ASX:CHN) can earn up to 70% interest in the Project by sole funding $800,000.