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Gold Road Resources Enters Into New Exploration Area

10 Oct 2017  |  08:29:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Gold Road Enters New Exploration Area

Gold Road Resources confirmed that it has signed two earn-in JV agreements (Earn-in Agreements) with Cygnus Gold (Cygnus) over a 3,400 sqkm area of the Wadderin and the Lake Grace greenfield exploration projects, located in the south-west of WA. The Earn-in Agreements provide the Company with the opportunity to earn up to a 75% interest in these two areas. In addition to the Earn-in Agreements, it has agreed to subscribe for A$0.75m in shares in Cygnus upcoming initial public offering (IPO), expected to be in late 2017. It will leverage its proven expertise in greenfields exploration in covered greenstone terranes, with the aim to identify plus-million ounce gold discoveries.

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