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Discovery enters gold prospecting option for Cue gold project

Prospecting and alluvial gold miner Southern Cross Prospecting secured a right to prospect for gold on Discovery Africa Ltd.'s Cue gold project in Western Australia for a 10% tribute to the latter on all gold recovered.

Discovery holds an exclusive option to a 100% interest in the two Cue project tenements, which total 235 hectares, according to a Feb. 8 release.

Under the option, the company can purchase the Cue and Pinyalling gold projects from Bruce Robert Legendre by paying A$30,000 plus goods and services tax and awarding a 1% gross royalty on all metals economically mined from the projects.