Gold focused WPG Resources (WPG) is pleased to announce today that it has moved to 100% ownership of the Tunkillia gold project in South Australia ("Project") through the acquisition of the residual 30% interest owned by Helix Resources Limited (HLX), its Joint Venture (JV) partner in the Project. The Project comprises EL 4812, EL 4495 and MC 4347 (the Tenements).
WPG acquired 70% of the Project at the end of May this year with its transition into a gold explorer and developer through the acquisition of the Tunkillia and Tarcoola projects in the Gawler Craton from Mungana Goldmines Limited (MUX).
Under the Sale and Purchase Agreement (SPA) reached with HLX and announced today, WPG will own 100% of the Tenements previously held by HLX on behalf of the Tunkillia JV, and this will set the platform for WPG to redefine the Project parameters and advance a new exploration strategy.
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