PepinNini Robinson Range Pty Ltd, a wholly owned subsidiary of PepinNini Minerals, has entered into a JV agreement with Grosvenor Gold Pty Ltd to explore and develop the iron ore potential of three tenements covering approximately 311sq/km in the Midwest region of Western Australia. Another separate JV Agreement is currently being finalized for an additional four tenements covering approximately 390sq/km. The JVA gives effect to a Heads of Agreement signed in December 2007 and is essentially on the same terms and conditions contained within that agreement. PepinNini will hold a 50% interest in the iron ore contained within the three tenements subject to the executed agreement and will manage exploration on behalf of the JV which will be funded equally by both JV partners. The JV intends to commence an extensive reverse circulation (RC) drilling program of approximately 5000m as soon as possible with the objective of defining an initial JORC compliant resource and to investigate the potential for additional iron ore resources. The JV plans to undertake RC drilling across at least seven prospects where iron mineralisation is outcropping and where potential extensions to the mineralization may be concealed beneath shallow alluvial sediments.
