Sheffield and Independence form Fraser Range JV

ASX-listed junior Sheffield Resources has signed a joint venture (JV) agreement with metals producer Independence Group over four granted tenements in the Fraser Range region of Western Australia. Under the terms of the JV, Independence will earn a 51% interest in the project area by making an up-front payment of A$500 000. The company could then earn an additional 19% interest by spending A$5-million within five years of the start of the JV.