Kingston Resources has secured an agreement that could see it acquire a 75 per cent interest in Trillbar Resources’ Livingston gold project in Western Australia.
The agreement gives Kingston 12 months to explore the project and the option to acquire the stake at any point during that time.
Livingston, which is northwest of Meekatharra, covers 204km2 of the western Bryah Basin and includes an existing resource of 49,000 ounces. The prospect also has a number of drilling intersections with high potential for additional discoveries.
Kingston managing director Andrew Corbett called the agreement a “very exciting development” for the company.
“The Livingstone agreement represents fantastic value for shareholders, and we intend to demonstrate that value in the short term by building on the work done at Livingston by previous explorers,” he said.
Corbett added that they discovered significant drill hits at a number of deposits, which they will test.
The potential acquisition will provide additional production and cash flow to the company, while they advance their development in the Mt Cattlin lithium project tenements.