One of Multicom’s objectives is to create long term growth and a diversified portfolio of resources. The Yappar Project is prospective for a range of minerals including oil shale, vanadium and intrusive related metals.
The Yappar Project comprises EPM 19520, 19521 and 25441, all of which are 100% owned by Multicom. All 3 Yappar Projects tenements were renewed by the Department of Mines (DNRME) in 2019.
EPM 19520, EPM 19521 and EPM 25441 cover approximately 702 km². The Yappar Project is located 50km west of Croydon in the Gulf Country of Far North Queensland, and 120km to the south of the nearest port at Karumba.
Nearby drilling data indicates that the Toolebuc Formation, the same formation that occurs at Saint Elmo Project, may be at shallow depths below tertiary sediments, and that the ore is potentially oxidised at the top of the unit. As a result there is the potential for extractable resources of Vanadium and Molybdenum at the Yappar Tenements.
Additionally, the Company is focusing on exploration for intrusive related mineralisation within the Project area and to that end recently completed aeromagnetic and ground gravity surveys (August 2019). The geophysical data has been inversion modelled to identify prospective targets.