Mining major Rio Tinto’s subsidiary Kennecott is poised to start exploration work at ASX-listed Alderan Resources’ Frisco copper/gold/silver project, in Utah.
Kennecott will spend an initial $6-million on exploration at the project area to gain a 55% interest in the project, with the company able to earn a 70% interest by completing a three-stage, $30-million exploration earn-in.