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Cygnus enters into new joint venture with Gold Road

Cygnus Gold Ltd. entered a new joint venture agreement with Gold Road Resources Ltd. over the Yandina gold project in Western Australia, which comprises four tenement applications covering about 1,727 square kilometers.

Gold Road will have a 75% interest in the joint venture, while Cygnus will own 25% and initially manage the project.

The new applications connect the land between Cygnus' Wadderin and Lake Grace projects, where Gold Road is already earning an up to 75% interest. The companies plan to explore the new project area once the tenements are granted, expected later this year, according to the March 22 release.