Metalicity Ltd. said Aug. 27 that it acquired prospecting license P40/1331 in Western Australia for A$20,000 in staged payments plus a 1% net smelter returns royalty on the first 50,000 ounces.
The acquisition constitutes part of the company's 51% earn-in for Nex Metals Explorations Ltd.'s Kookynie gold project. The new license is also contiguous and immediately west of the Champion tenement, which is part of Kookynie.
