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Tando Resources secures option on gold-prospective property in Western Australia

Tando Resources Ltd. secured an option on a property prospective for conglomerate-hosted gold in Western Australia's Pilbara region.

The company said Dec. 13 that it acquired a six-month option to purchase the nonfluorite rights on tenement E45/4621 for A$60,000 in cash and can acquire the rights for either A$50,000 in cash and 500,000 shares or A$100,000 in cash and 250,000 shares.

"This acquisition provides our shareholders with direct exposure to this emerging sector at a minimal up front cost," Bill Oliver, managing director at Tando Resources, said in the statement. "We view this tenement as highly prospective and complementary to our existing holdings, with the ability to advance exploration in parallel with current work programs and in response to developments in the sector."