Westgold Resources (ASX:WGX) has inked a deal with Musgrave Minerals for an exploration and development project in Western Australia.
Under the agreement, Westgold will fund further exploration of Musgraves assets in the Cue region by taking a 15% stake in the company for $3.36 million.
The funding will allow Musgrave to accelerate its regional exploration programs and development studies at Cue.
Westgold say the Musgraves Cue project portfoilio shows great promise and there are clear synergies with Westgolds operations in the area.
Shares in Westgold (ASX:WGX) are trading 1.2 per cent higher to $1.68