Greatland Gold, Rio Tinto Enter Farm-In and Joint-Venture Agreement
30 May 2023 - 5:32PM
Dow Jones News
By Christian Moess Laursen
Greatland Gold said Tuesday that it has entered a farm-in and
joint-venture agreement with Rio Tinto Exploration to accelerate
exploration across a tenure near Greatland's Havieron gold-copper
project.
The mining company said the tenure--located within the Paterson
Province of Western Australia--is highly prospective, and there has
been historical delineation of gold in rock chips and copper
intersected with strong correlation to a Telfer style deposit.
Initial minimum commitment is 1.1 million Australian dollars
($719,180) as well as 2,000 meters of drilling before 2024
year-end.
Greatland is entitled to earn up to a 75% joint-venture interest
in the project tenements under the farm-in arrangement.
Drilling will begin during 2023, the company said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
May 30, 2023 03:17 ET (07:17 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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