Godolphin Resources (ASX:GRL) has entered into an earn-in and joint venture agreement with Canadian mineral explorer Great Plains Metals Corporate (TSX-V:GPS).
Under the deal, Great Plains has the right to earn up to 51% of the Yeoval and Goodrich copper gold projects in New South Wales, by incurring at least $1 million in expenditure within one year.
Upon completion, Great Plains can earn up to 70% with an additional $1 million in expenditure within the following 12 months.
Godolphin says this agreement provides the company with upside exposure to future exploration work at both projects without affecting existing cash reserves.
As Great Plains advances the projects, Godolphin will continue to conduct various workstreams associated within its Lewis Ponds Project in New South Wales.
The current activities include beginning metallurgical testwork and completing a modern deep-penetration induced polarisation survey.
The Goodrich Project is located within the Yeoval Project which covers 290km2 and is located 70km northwest of Orange in Central New South Wales.
Great Plains, previously known as Norrland Gold Corp, is a mineral explorer and developer focused on copper and gold discoveries in Australia.
Godolphin Resources is an Australian explorer primarily focused on discoveries within the Lachlan Fold Belt in New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Godolphin Resources
