EXC 0.00% 4.3¢ exterra resources limited

News: Gascoyne Resources completes acquisition of WA gold project

  1. Gascoyne Resources (ASX:GCY) has completed the acquisition of the Egerton Gold Project in Western Australia from Exterra Resources (ASX:EXC).

    In September 2014, the company exercised its option to acquire the project for 4,166,667 GCY shares plus 500,000 Gascoyne options, exercisable at $0.25 within a three year term.

    Egerton includes the high grade Hibernian deposit (23,800 ounces at 6.4 grams per tonne gold) on a Granted Mining Lease within trucking distance to its Glenburgh Project.

    It also hosts a number of other high grade exploration targets such as the Gaffneys Find Prospect where recent shallow reverse circulation drilling resulted in intersections up to 8 metres at 11.4g/t gold.

    Extensions have been identified to known deposits over 15 kilometres of strike.

    Gascoyne had $1.2 million in cash as at 30th June 2015.

     

 
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