Invictus does deal for NSW assets
PERTH (miningweekly.com) – ASX-listed Invictus Gold has exercised its option to acquire full ownership of the Rangitira gold project and the Commonwealth gold-volcanic massive sulphide (VMS) deposit, both in New South Wales.
The acquisition formed part of a larger transaction between, on the one hand, Invictus Gold and its majority shareholder Impact Minerals, and Endeavour Minerals on the other.
Under the terms of the larger transaction, Invictus and Impact would both acquire 50% shareholding in the unlisted Endeavour Minerals as well as shareholding in four projects.
Invictus said on Friday that a detailed review and synthesis of previous exploration work on the Rangitira and Commonwealth projects was ongoing, but to date, this work had confirmed the presence of near-drill-ready targets with the potential to significantly increase the size of the Commonwealth deposits.
Incivtus would now conduct a drilling campaign at the Commonwealth project between the second and third quarters of this year.
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