Minotaur Exploration Ltd. said May 23 that it entered into a binding agreement with Syndicated Metals Ltd. to acquire nine exploration permits for minerals, collectively known as the Highlands copper-gold project, covering an area of 776 square kilometers in Queensland, Australia.
As payment, Syndicated Metals will receive A$400,000 in a combination of cash and shares.
Minotaur began a field reconnaissance program upon signing the agreement, with company geoscientists assessing targets previously identified by Syndicated Metals in order to make a priority selection for an initial round of ground-based geophysical investigations following completion of the acquisition.
