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( Kitco News ) – Panther Metals (PALM:LSE) are all set to acquire the Merolia gold project near Laverton, Western Australia, from White Cliff Minerals Ltd for cash and shares. Panther will pay A$112,500 in cash on the successful completion of a due diligence period and then an additional 734,470 shares. Lastly, A$1.25 per ounce of gold will be made to White Cliff Minerals in the event that a JORC Resource is defined. It has been said shallow drilling intercepts on the prospects include eight metres at 6.7 grams per tonne gold five metres 27.8 grams.
Darren Hazelwood, Panther’s chief executive said "The project represents a post-discovery opportunity and our plans will now focus on building a resource […]
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