trending Market Intelligence /marketintelligence/en/news-insights/trending/F7bIRX_Hpi1YZ3hGzLozGA2 content esgSubNav
In This List

Castle to acquire 80% interest in 2 gold-prospective license applications

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Podcast

Energy Evolution | Looking ahead to the energy transition in 2023

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?


Castle to acquire 80% interest in 2 gold-prospective license applications

Castle Minerals Ltd. secured rights to acquire an 80% interest in two adjacent exploration license applications 45/4965 and 45/4975, dubbed the Coolyia Creek project, in Western Australia's East Pilbara region.

Under the terms, Castle agreed to pay two prospector applicants for the E45/4965 A$20,000 to secure the 80% interest in the license upon its grant and will reimburse the application fees.

The vendors will be free carried to a decision to mine and will also receive 1% net smelter royalty on all mineral production.

The license application was made on July 20, and the grant is expected within several weeks, subject to successful native title negotiations.

Meanwhile, the company agreed to acquire the interest in the ELA 45/4975 from another party on similar terms other than the consideration is the issuance of 2 million Castle shares.

The applications comprise a total of four blocks and are prospective for gold, according to an Oct. 11 release.