MinRex Resources is the latest company to swarm over the conglomerate gold story, securing a 70% stake in five leases in the eastern Pilbara and the backing of local play-leader Artemis Resources.
Pending shareholder approval, MinRex will own 100% of the Bamboo Creek, Marble Bar and Daltons projects by paying out several private sellers.
All the leases are close to where nuggets have been found in surface conglomerate horizons. Past exploration at Norm’s Find recovered rock chip samples of up to 30 grams per tonne.
It has paid a non-refundable deposit of A$100,000 and will pay a further $650,000 and issue 14.5 million shares to the vendors and carry their on-ground exploration expenditure for at least $500,000 over the next two years.
MinRex has announc...