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Comet Resources acquiring "very attractive" Mexican gold project

Comet Resources Ltd (ASX:CRL) managing director Matthew O’Kane speaks to Proactive about its acquisition of the Santa Teresa Gold Project in Baja California, Mexico, which has an existing non-JORC resource.

The company has also negotiated a non-binding term sheet with Raptor Capital International Ltd for a gold streaming and royalty financing of up to US$20 million to fund activities at the project.

O’Kane said the project has had limited historical drilling but results have reached up to 950 g/t gold.

He said: “There’s exploration upside, it's open along strike, it's open at depth and the licence itself is relatively underexplored so it looked like a very attractive project to us.”

Quick facts: Comet Resources Ltd

Price: 0.025 AUD

ASX:CRL
Market: ASX
Market Cap: $13.56 m
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Comet Resources' Matt O'Kane says there's a lot of upside for Santa Teresa...

Comet Resources Limited's (ASX:CRL) Matt O'Kane caught up with Proactive's Andrew Scott after publishing a maiden 88,600-ounce JORC-compliant mineral resource estimate for the Santa Teresa High-Grade Gold Project in Baja California, Mexico. The inferred mineral resource estimate of 369,000...

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