DGO Gold Ltd. said Feb. 2 that it entered into a joint venture with private consortium Romardo Gold (WA) Pty. Ltd. over the Lake Randall area in Western Australia's Eastern Goldfields region.
Lake Randall comprises an exploration license application covering 53 square kilometers and is considered prospective for sediment hosted and vein array gold mineralization.
DGO Gold can earn up to a 90% interest in the joint venture by sole funding exploration activities to the completion of a bankable feasibility study.
Upon reaching a decision to mine, Romardo can elect to contribute its 10% of the joint venture costs or revert to a 2.5% net smelter royalty.