PERTH (miningweekly.com) – ASX-listed explorer Lawson Gold has signed a farm-in and joint venture (JV) agreement with Moho Resources over the Silver Swan North project, in Western Australia.
Under the terms of the agreement, Moho could acquire a 25% stake in the tenement by drill testing two high-priority electromagnetic targets prospective for nickel.
Moho could acquire a further 26%, taking its interest to 51%, by spending some A$400 000 on the project, inclusive of its first earn-in. A further 19% interest could be earned by spending A$1-million, inclusive of the first two earn-ins.
Lawson told shareholders on Monday that it was Moho’s intention to undertake geochemical and geophysical surveys over the identified target areas, as well as other early-stage prospects, with drill testing of the best targets to follow.
The Stage 1 drilling would need to be completed by the end of this year.
Lawson said the introduction of a new exploration partner for the Silver Swan North project was significant and would see exploration activities resume at the prospective nickel and gold leases, ensuring Lawson could focus its efforts on acquiring other new investment initiatives with similar growth potential.