Mining International Pty Ltd (Mining International), is a wholly owned subsidiary of Cyclone Metals. The Company holds tenure to 4 mining leases at the Wee MacGregor Project located 40 km southeast of Mt Isa in Queensland (Wee MacGregor Project). The tenements are located within in the Eastern Fold Belt of the Mt Isa inlier. The tenements are located in the Mary Kathleen Zone/Wonga Subprovince. This area is prospective for a variety of deposit types, most notably structurally controlled epigenetic copper and gold deposits.
Cohiba Minerals Limited (Cohiba) has a Farm-in agreement with the Company for mining licences ML 2504, ML 2773 and ML 90098, while Firebird Minerals Pty Ltd (Firebird) has a Farm-in agreement for mining licence ML 2771.
The Lady Ethleen tenement (ML 2771) has been 100% retained by Cyclone Metals (Lady Ethleen). The Lady Ethleen tenement is currently being utilized for a trial mining and processing exercise using a newly developed green leach process known as GlyLeach TM. A successful trial will mean a significant shift in future processing technology and will in turn facilitate possible development of the part owned, nearby Wee Macgregor Project as well as many other potential small assets in the district, that may be economic with access to appropriate processing technology.