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China Hanking Holdings acquires Zeus gold tenements in Western Australia

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China Hanking Holdings acquires Zeus gold tenements in Western Australia

said May 6that its Hanking Gold Mining Pty Ltd.subsidiary has acquired two mining tenements in Western Australia from 's Sammy ResourcesPty. Ltd. unit for A$220,000.

The tenementsspan about 19.1 square kilometers and host the Zeus gold deposit, which contains29,634 ounces of gold resources.

According tothe company, the mining licenses are valid until Jan. 24, 2028, and are renewablefor another 21 years.

The total considerationhas been paid in full, and Hanking Gold has recently secured the necessary regulatoryapproval for the transaction.