Golden Peak Minerals Inc. said March 15 that it entered into an option deal with Trafalgar Resources Pty. Ltd. to acquire the Canegrass project in Western Australia.
To exercise the option, the company will pay C$25,000 and issue 3 million shares to Trafalgar upon exchange approval, followed by two 1,875,000 share issues on the first and second anniversary of the exchange approval.
The project covers 42 square kilometers and lies within the Windimurra Igneous complex, which is an area with historical exploration largely focused on platinum, palladium and gold.
Golden Peak Minerals CEO Wes Hanson believes that the nickel, cobalt and copper potential of the Windimurra complex is underexplored and this agreement offers another high-quality exploration asset.
