Spectrum to have a crack at First Hit

A SEARCH for a high grade gold project stretching from California to Menzies has ended with Spectrum Metals buying the First Hit underground mine near the historic WA town last worked by Barminco and Barra Resources early this century.

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Spectrum will pay A$100,000 cash and issue $100,000 worth of shares to the undisclosed vendor, with $600,0000 raised from so-called sophisticated investors (at 0.