Australia
Pacific American Holdings moving into hot gold space with WA farm-in agreement
Pacific American Holdings Ltd (ASX:PAK) has signed an exclusive and binding agreement with Salazar Gold Pty Ltd that will allow it to acquire up to 60% of highly prospective, advanced gold exploration licences in the WA Goldfields.
The agreement will give the company access to Salazars gold projects which have a favourable geological setting along 25 kilometres of the Kilkenny Fault and extending north from the Porphyry North Gold Project mine.
Three high-level drill targets have been identified by licence holders at the Porphyry North Gold Project.
The agreement is part of efforts to add value to the companys portfolio of assets, which include the GP Hydro Joint Venture and Elko Coking Coal Project in British Columbia.
“Diversify into high-value assets”[hhmc]
Pacific Americans chairman Geoff Hill said: “This allows PAK shareholders to gain access to an exciting gold project that brings significant value potential to the company.
“Salazar has undertaken detailed preliminary explor..
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