TSC Limited announced that it has entered into a binding MOU with Peel Far West Pty Ltd. and New Zinc Resources Pty Ltd. (NZR) to form the Mundi Mundi Project (MMP). This enlarged MMP area, which is highly prospective for IOCG /Broken Hill Type lead-zinc-silver mineralisation, comprises TSC's Perseus tenement (EL8778) plus contiguous ground from PEX (EL8877) and NZR (EL8729). NewCo, which will be set up to house MMP and owned by the three founding stakeholders (TSC & NZR 33%; PEX 34%), intends to expedite seeking out a major partner to fund and fast-track exploration and development work, on a free carried interest basis for NewCo. Earlier explorers discovered several base metals prospects near the magnetic redox boundary, including Polygonum, Ardeetoo, Rathole, and K1. At Ardeetoo, results achieved by CRA Exploration Pty Ltd. (CRAE) included a best intersection of 1.2m at 4.6% Cu & 1.5g/t Au from 196m. Further south, at Rathole, CRAE intersected zones of massive pyrite and pyrrhotite with anomalous zinc-copper-gold - the best intersection achieved: 1m at 1.66% Cu & 2.09g/t Au from 339m1. In addition, the area is prospective for Broken Hill Type lead-zinc-silver deposits within the Broken Hill Group rocks and, possibly, Mississippi Value Type (Thunderdome 5) in the Adelaidean sediments. Thick drill intersections of anomalous lead-zinc have been achieved by previous explorers at the Woolshed, Polygonom and Thunderdome prospects, with results including: Polygonom: 209m at 0.34% Pb-Zn including 5.8m at 4.01% Pb-Zn (drill-hole DDIN4) & 71m at 0.7% Pb-Zn including 3.8 at 9.25% Pb-Zn (drill-hole DDIN3); and Thunderdome 5: 1m at 23.1% Pb-Zn from 327m (drill-hole DF02) & 8.5m at 6.6% Pb-Zn from 316m including 2m at 23.1% Pb-Zn from 316m (drill-hole 11DF12). Several regional geophysical targets within MMP, identified from reprocessed aero-magnetics data originally undertaking by TSC on the Perseus Project1, have now been highlighted for priority follow-up. Moreover, these targets have been ranked by a geophysicist consultant based on magnetic & gravity signatures, along with proximity to known mineralisation. In addition, the enlarged tenure area covers part of the Mundi Mundi plain, which has limited outcrop and seen minimal exploration over the last decade due to extensive cover sediments over the basement. More surprisingly, the MMP has fewer drill-holes compared to the rest of the Broken Hill block, despite containing clearly definable aero-magnetic anomalies that map out prospective iron formations including the redox boundary (horizon) near the top of the Thackaringa Group and base of the Broken Hill Group. In other parts of the Curnamona, Kalkaroo, Portia and North Portia deposits are associated with the redox boundary in the equivalent stratigraphic position at the top of the Thackaringa Group. Previous explorers have recognised the potential for the Mundi Mundi area to host several styles of mineralisation, including: Iron-oxide-copper-gold (IOCG) near the redox boundary; Broken Hill Type lead-zinc-silver in the Broken Hill Group; Shear hosted copper-cobalt in the Thackaringa Group i.e. Copper Blow; and Mississippi Value Type (MVT) lead-zinc mineralisation in Adelaidean sediments. Priority activities in the immediate term include: Satisfying the conditions precedent to the MOU, which involve NewCo obtaining necessary approvals /waivers and finalising a shareholder's agreement that will apply to shares held in NewCo; The geology teams reviewing and reconciling historic data across the MMP to refine targets for follow-up exploration then develop indicative work programs; Securing a major joint venture partner.