Pantoro Ltd (ASX:PNR) has signed a binding agreement to acquire 50 per cent of the Central Norseman Gold Project (CNGP) in the Eastern Goldfields of Western Australia.
An unincorporated joint venture will be formed with the vendor.
They are seeking to raise approximately $43 million.
Current Mineral Resource of 35.5 Mt for 4.4-million ounce.
It was back in 1894 gold was first discovered near the future town of Norseman.
Shares in Pantoro (ASX:PNR) are currently in a Trading Halt - last traded at 22 cents.