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Korab acquires 7 gold-prospective exploration licenses in Western Australia

Korab Resources Ltd said Oct. 18 that it acquired seven gold-prospective exploration license applications comprising a total of 210 square kilometers in Western Australia's East Pilbara and West Pilbara districts.

Financial details of the acquisition were not disclosed.

In a statement, Chairman Andrej Karpinski called the deal "an opportunistic acquisition," saying the properties could potentially contribute significantly to Korab.

He said they fit well with the group's Mt Elephant copper-gold interests and Batchelor gold project in Western Australia and Northern Territory, respectively.