Consisting of exploration licence application 1768 and EL 1420, Goldminex said a JV would "enable rapid advancement of exploration for gold and copper within this region".

The most notable development in the wider area is the Xstrata-led Frieda River copper-gold project - which is based around the border of the West and East Sepik provinces.

Meanwhile, Goldminex is operating field activities for its JV with Vale over six tenements in the Owen Stanley region.

The 4000m diamond drilling program at the Liamu copper-gold project started up in November and Goldminex said drilling was 39% complete.

Goldminex shares are in a trading halt this morning.