Marindi Metals Ltd. purchased a gold prospective tenement in the Forrestania Greenstone Belt of Western Australia from privately held Bar None Exploration Pty. Ltd. for A$20,000 and 3 million shares.
The tenement, called Great Southern, contains historical high-grade gold workings as well as unmined and untested drill intercepts. Marindi said Oct. 15 that the tenement complements the potential of its Forrestania gold-lithium project.
Ten random samples taken from several stockpiles around the historical open pit at Great Southern yielded grades of up to 9.95 g/t, the company said.
Additionally, Marindi was granted a tenement located to the south and directly along strike from Classic Minerals Ltd.'s Kat Gap gold prospect, where recent drilling returned high-grade results, including 10 meters at 30.77 g/t and 8 meters at 19.05 g/t.