Venus Metals (ASX:VMC) signed a drill-for-equity agreement with Topdrill for several reverse circulation and diamond drilling programs at various projects over the next three months, according to a Monday filing with the Australian bourse.
The company may settle up to 30% of the total invoice value for meter charges and active rate in shares to a maximum value of AU$500,000 until June 30, the filing said.
The drilling programs will be undertaken at the Bellchambers, Henderson, and Youanmi projects in Western Australia, according to the filing.
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