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Duketon to sell gold tenements package from namesake nickel project for A$25M

Duketon Mining Ltd. entered into a binding agreement to sell a package of gold tenements from its namesake nickel project in Western Australia to Regis Resources Ltd. for A$25 million, it said Aug. 26.

Duketon will retain 100% ownership of mining license M38/1252, which contains 71,000 tonnes of nickel metal in JORC-compliant resources, and will keep the rights to nickel for five of the sale tenements.

Duketon granted Regis the gold rights for M38/1252 under a gold rights deed.

Duketon Managing Director Stuart Fogarty said the company will focus on maximizing the value of the known nickel resources and exploring the nickel tenure.