Intrepid Mines Ltd. entered into a farm-in and joint venture agreement to earn up to an 80% interest in Ausgold Ltd.'s Doolgunna Station base metals-gold project in Western Australia.
The company can acquire the interest by spending A$2.2 million on the project over two years, according to a June 4 release.
After the spend is completed, Ausgold can keep a 30% contributing interest in the project or revert to a 20% interest, which would be free-carried to a decision to mine.
Intrepid Mines will also be required to keep the project in good standing.
