Copper and gold exploration company, Kalamazoo Resources Limited secured an Option to acquire between 80% and 100% equity in three highly prospective gold projects in the Pilbara from companies associated with WA resources industry stalwart, Denis O’Meara (DOM).
The projects include the DOM’s Hill, Sisters and Marble Bar Gold Projects. The tenements have the potential to host significant gold mineralisation and are located in highly prospective locations within close proximity to some of the Pilbara’s most exciting developing gold projects.
Kalamazoo acquired a 90-day Option across each of the projects for the payment of AUD$125,000 and the issue of shares in Kalamazoo to the value of AUD$200,000.
The parties have agreed that the date by which the Option must be exercised by KZR is extended from 1 January 2018 to 1 April 2018.