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Dampier Gold to acquire Ruby Plains project in Western Australia

Dampier Gold Ltd. is acquiring the Ruby Plains gold project, which comprises two exploration licenses and two exploration license applications covering an area of 821 square kilometers in Western Australia.

The company said June 18 that it will issue 13,460,000 shares and pay A$50,000 as consideration, with a further A$60,000 due upon the completion of a A$238,500 financing.

The offering will comprise 9,540,000 shares at 2.5 cents apiece, with funds to go toward phase-one exploration at Ruby Plains.

Damper Gold is planning an analysis of historical data, mapping and modeling.