International Goldfields (ASX: IGS) has signed definitive agreements to sell four tenements in Western Australia’s Fraser Range for up to $300,000 cash and scrip to an existing Fraser Range explorer.
The four tenements, which were previously subject to the Plumridge Joint Venture, cover a total of 832 square kilometres and are prospective for Nova-style nickel sulphide deposits.
They also contain the Corvette gold prospect.
The transaction delivers cash to IGS, which is focused on its copper-gold projects in Brazil, while allowing it to retain upside exposure to the Fraser Range tenements.
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