Pantoro Ltd (ASX:PNR) has been producing gold from the Nicolsons project since September 2015, and recently delivered more records.
READ NOW: Pantoro delivers gold production record
The company is now looking to increase its footprint in the area, and has entered into a binding agreement to acquire the Grants Creek Gold Project near Halls Creek in Western Australia.
Grants Creek is located 60 kilometres north of Halls Creek and includes a number of advanced prospects with first mining recorded during the 1880’s.
Paul Cmrlec, managing director, commented:
"The Grants Creek gold project presents a compelling addition to our Halls Creek Project where Pantoro owns the only gold processing plant within a 300 kilometre radius.
"Once administrative matters have been fully resolved, Pantoro intends to complete field reconnaissance ahead of confirmatory drilling within the already defined areas of mineralisation.
"The project is only 100 kilometres from Nicolsons via the sealed Great Northern Highway, and holds excellent potential to provide additional high-grade ore feed for the project in the near term."
Historial drilling results include: 15 metres at 4.2g/t gold.