Suspended Shree Minerals Turns Mind To Gold In Western Australia

Former Tasmanian iron ore miner Shree Minerals Limited has announced a gold project acquisition despite its shares still being suspended from trading by the ASX.

Shree, which developed the Nelson Bay River Mine at Circular Head, told the ASX it would exercise an option to acquire the Golden Chimney gold project in Western Australia from Carmichael Prospecting Company.

Shree said it had started preparations to "immediately commence" exploration activities to determine Golden Chimney's prospectivity for minerals, specifically gold.

Nelson Bay River has been on care and maintenance since 2014.