- Native Mineral Resources (NMR) signs an access agreement with Next Horizon for the Music Well Gold Project in Western Australia
- NMR paid the pastoral lease holder of the project $135,000 to sign the deed which grants it full access to the gold project
- After recent activities highlighted the gold potential at Music Well, Native Mineral Resources will begin a 450-metre drilling program later this month
- Company shares are trading steady at 27.5 cents
Native Mineral Resources (NMR) has signed a pastoral access deed with Next Horizon for the Music Well Gold Project in Western Australia.
The company paid Next Horizon, who’s the pastoral lease holder of the project area, $135,000 to sign the deed.
Executing this deed marks an important step forward and provides pastoral lease holder consent for Native to develop the Music Well Gold Project.
Native Mineral Resources also secured full access to key roads and tracks servicing the Music Well project area.
NMR Managing Director, Blake Cannavo, was pleased to sign the agreement.
“This is access agreement is significant, and paves the way for NMR to rapidly accelerate our exploration and development plans for the Music Well Gold Project,” Mr Cannavo said.
“Our recent work at Music Well has clearly outlined the potential for the project to host a high-grade gold system and as a result we have expedited our exploration plans for Music Well over the next few months.”
NMR recently conducted exploration which showed the Music Well quartz vein system contained gold at shallow depths. The average gold grade from 128 samples was 3.15 grams of gold per tonne (g/t) with grades of up to 129g/t gold.
Following these results, the company will undertake a 450-metre diamond drilling program later this month which will be followed by bulk sampling work.
Company shares were trading steady at 27.5 cents at 1:35 pm AEST.