Platina Resources (ASX:PGM) has signed a conditional acquisition with privately held Bravo Minerals, to acquire the Sunrise Bore Gold Project in Western Australia.
Sunrise Bore is located south of Platina’s recently acquired Mt McKenna Project and adjacent to the multi-million ounce Sunrise Dam Gold Mine in the Laverton district in Western Australia.
Under the deal, Platina will pay a non-refundable deposit of $25,000 cash, as well as $375,000 cash at completion. The company will also issue $800,000 worth of shares to Bravo, as well as grant a 1% net smelter royalty return.
Managing Director Corey Nolan says the project has potential to build into a resource quickly through a systematic drilling program aimed at expanding the existing defined mineralisation along strike and at depth.
“The project is strategically located near Laverton, which will operate as a central hub for all our projects in a cost effective approach,” Nolan says.
“Importantly, it shares the same native title group, Nyalpa Pirniku, as Mt McKenna, which will streamline engagement and operation planning.”
Platina Resources is an active gold explorer focused on discoveries in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Platina Resources
