Evolution signs up for Murchison exploration
PERTH (miningweekly.com) – Gold miner Evolution Mining has struck an earn-in joint venture (JV) agreement with fellow-listed Enterprise Metals over the Murchison exploration project, in Western Australia.
Under the terms of the agreement, Evolution could earn an 80% stake in the project by spending an initial A$6-million on exploration over a four-year period.
Evolution would be required to make an initial cash payment of A$150 000 on the signing of the agreement, and further cash payment of A$150 000 should the agreement remain in place after a two-year period.
Evolution VP for discovery and business development Glen Masterman said on Monday that the Murchison project was a compelling exploration project in a well-endowed gold district.
“It represents a rare opportunity in which the most prospective areas remain poorly tested under shallow cover.”
The Murchison project covers some 750 km2 in the Murchison region, and is prospective for Archaean greenstone gold deposits and includes poorly tested continuations of the Big Bell and Cuddingwarra shear zones.
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