The miner said the project had all the hallmarks of an “excellent copper project”,
supported by a pro-mining government and community.
“Since the decision to put the earlier feasibility work on hold, management has continued to work diligently on the Yandera project,” it said in a statement.
“Marengo launched a 9-hole drill campaign at Dimbi in 2013 in search of higher grade mineralisation to strengthen the resource grade, and continued in 2014 with a four-hole programme at Rima.
The drilling resulted in an increase of resource tonnes, with limited impact on the overall grade. Planning for continuing exploration at the Yandera project is well advanced, and work is expected to commence soon.”
Marengo recently initiated a metallurgical test programme to confirm copper recoveries from oxide ore.
The company confirmed that it had officially delisted from the Australian Stock Exchange.