Bailey Minerals (BAA)

Shares / Stock Code

BAA

Stock Exchange / Sharemarket

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Bailey Minerals NL (BAA) is a dedicated mineral explorer formed in May 2008 for the purpose of acquiring and developing highly prospective mineral properties. The Company is currently focussed on exploring for economic gold deposits in its Mt Palmer and Mallee Hen Point projects.

Bailey Minerals will also search for outstanding projects that will add considerably to its portfolio of projects. All potential commercialisation options for the Company’s assets will be considered with the ultimate aim of creating and maximising shareholder value.

In April 2010, the Company entered into Farmin and Joint Venture Agreements with Drake Resources Limited to explore for gold on the Mt Palmer and Mallee Hen Point Projects. Bailey Minerals can earn up to a 60% interest in the Mt Palmer project by spending up to $400,000 and up to a 70% interest in the Mallee Hen Point Project by spending up to $400,000.

Bailey Minerals - Mt Palmer Project

Mt Palmer project consists of 21 hectares of the historical Mt Palmer mine covered by mining lease M77/406 which was granted on 30/03/1990. The project encompasses the old Mt Palmer mine within the Southern Cross district of Western Australia. The project is accessed from Southern Cross 32 kilometres east to Yellowdine via the Great Eastern Highway, thence 16 kilometres south via the unsealed Yellowdine-Marvel Loch Road to the historical Palmer’s Find gold mine.