Golden Horse Minerals (ASX:GHM) said soil sampling programs at its Southern Cross gold project in Western Australia identified near-term drill targets, according to a Monday Australian bourse filing.
The firm will continue soil geochemical sampling, aimed at defining new drill targets, over the coming months.
It also entered into an agreement for the acquisition of the Irene Betty lease, which will complete the firm's ownership of the key tenements in the area.
It agreed to pay the vendor of Irene Betty, West Australian Prospectors, AU$50,000 by March 10, and issue 620,000 Chess Depositary Interests to the vendor, or its nominees. It will also will grant a 1.5% net smelter royalty to the vendor on the first 15,000 ounces of gold produced from Irene Betty.
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