Gold miner, Saracen Mineral Holdings (ASX:SAR) has entered into a binding agreement to acquire the Sinclair project from Talisman Mining (ASX:TLM) for $10 million.
The project is 25 kilometers south west of Thunderbox.
Saracen say that the project is a highly prospective yet underexplored gold tenure immediately along strike from Saracen’s Bannockburn project area.
Completion is expected to occur prior to the end of October 2019.
The transaction is subject to a number of conditions including obtaining Glencore’s consent.
Shares in Saracen Mineral Holdings (ASX:SAR) closed 1.93 per cent lower at $3.56 yesterday.