PERTH (miningweekly.com) – ASX-listed Bulletin Resources has reached an agreement with Matsa Resources to acquire an 80% stake in the Lake Rebecca gold project, in Western Australia.
Bulletin will make a cash payment of A$125 000 to Matsa, and has agreed to a 1% net smelter royalty on all minerals produced at the project area.
The Lake Rebecca gold project comprises a 172 km2 tenement package in the southern part of the Laverton Tectonic zone, which also hosts the Sunrise Dam, Wallaby, Lancefield and Granny Smith gold projects.
Bulletin director Rob Martin on Tuesday said that the company had reviewed a number of projects of late, and believed that the Lake Rebecca project offered an "excellent" opportunity to host gold mineralisation and its proximity to Apollo Consolidated’s Rebecca gold project reinforced this belief.
“Bulletin can immediately and independently without distraction, commence a concerted effort to discover economic gold deposits within this relatively underexplored area,” Martin said.