Ramelius Resources has notified Australian-focused copper, gold and base metals explorer Clancy Exploration that it will pull out from the Condobolin joint venture project, which will now revert 100% to Clancy ownership.
The news comes just days after Kaizen Discovery Incorporated told Clancy that it will withdraw from the Fairholme JV project in NSW.
Clancy, which has 6 wholly owned and managed projects and 1 JV project in the Lachlan Ford Belt of NSW, said it will now seek a new partner for Condobolin.
Condobolin is located in the central west of NSW immediately north of the Condobolin township. It has a substantial mining history, predominantly as a base metals field (lead, copper and zinc), as well as gold. The mineralisation is hosted in epithermal-style quartz veins within the metasedimentary units of the Ordovician Girilambone Group.
Ramelius was earning 80% of the Condobolin project by funding A$2 million for exploration over four years.