Bulletin Resources (ASX:BNR) has entered into a sale and purchase agreement to obtain 509km2 of tenements adjacent to its Lake Rebecca Gold Project, located 150km east north-east of Kalgoorlie, Western Australia.
The tenements are near Northern Star Resources’ (ASX:NST) 4 million ounce gold Carosue Dam Operations and Ramelius Resources’ (ASX:RMS) Rebecca and Roe projects.
All of the tenements are currently held in a joint venture agreement between St Barbara (ASX:SBM) and privately held Plowden Resources.
The sale and purchase transaction is expected to be completed shortly.
Under the agreement, Bulletin will pay both companies up to $140,768 and grant a 2% net smelter return royalty in respect of the sale of minerals extracted from the area.
The company says the new tenements increase the existing ground at Lake Rebecca to 1,100km2.
Previous work has uncovered multiple targets that the company says provides immediate exploration interest. Further, untested structural target areas are yet to be explored.
Bulletin is currently preparing an aggressive exploration program in anticipation of an immediate start to work.
The Lake Rebecca Gold Project lies 150km east-northeast of Kalgoorlie in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Bulletin Resources
