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Great Southern Mining acquires historic gold mine in Western Australia

Great Southern Mining Ltd. completed a transaction to purchase the historic Cox's Find gold mine and surrounding tenure in Western Australia from Raymon Kowal.

The acquisition comprises a 100% interest in three granted mining leases, located close to Regis Resources Ltd.'s Garden Well discovery, part of its Duketon Southern Operations.

The company said Aug. 26 it has paid A$150,000 cash and will pay a further A$1.8 million cash on achieving milestones. The mine will have a 1.5% net smelter return royalty on gold.

Great Southern intends to start exploration immediately, including a systematic program to define the high-grade underground and open-pit gold resources in the near term.