Gold miner St Barbara Mines has acquired a 70% interest in the tenements comprising of Australia Potash Limited’s Lake Wells Gold Project in the Northern Goldfields of Western Australia.
As released to the market today, St Barbara and Australia Potash have now formed an unincorporated Joint Venture to continue the exploration, development and mining of mineral resources on the project. Under the terms of the Agreement, Australia Potash shall not be obliged to make any contribution to project expenditure until such time as St Barbara has completed a bankable feasibility study into the development of any non-potash orebody within the project tenements.