Syndicated Metals (ASX:MD) reported that it has entered into an agreement with Gateway Mining (ASX:GML) to purchase 80 percent of the high quality Edjudina gold project in the southern Laverton District of Western Australia.
As quoted in the press releases:
The acquisition of the Edjudina gold project will give Syndicated a significant position in a highly prospective, yet under-explored area of the prolific Laverton District with a strong pipeline of highly promising exploration targets and opportunities.
One of the key attractions of the project is the geological similarity between the gold anomalies at Edjudina and the early stage exploration results from the 6 Moz Tropicana deposit owned by AngloGold Ashanti Australia (ASX:AGG) and Independence Group NL (ASX:IGO).
The region continues to attract ongoing and strong interest with active exploration programs being undertaken by major and mid-tier operators including St Barbara, Saracen Minerals, AngloGold Ashanti and Apollo Consolidated among others.