The Company is pleased to advise that it has executed a sale and purchase agreement with private Company Ausgold Trading Pty Ltd to acquire the Mt Porter gold Deposit for consideration of $1.05 million to be paid upon Completion. Further staged payments are required subject to certain resource scale and development hurdles being met per the Key Terms of the agreement.
The acquisition is consistent with the Company’s strategy to consolidate nearby projects which host existing gold, silver or base metals mineral resources to support the proposed Fountain Head and Hayes Creek development, and have significant exploration upside.