Maritana expands footprint surrounding Black Swan

Maritana Minerals has acquired strategic tenements surrounding the Black Swan processing hub in the Western Australian Goldfields from Nano Metals. The acquisition comprises a total cash payment of $345,000, including a non-refundable execution payment of $50,000 and a completion payment of $295,000, and 509,259 shares valued at $1.08 each.

Half of the acquisition shares will be held in escrow for three months, with the remaining half held in escrow for six months. The acquired tenure is located directly adjacent to the Black Swan processing hub and is prospective for lithologies and key geological structures known to host gold and nickel mineralisation.

CEO Grant Haywood says the acquisition supports Maritana’s regional consolidation strategy by securing tenements surrounding Black Swan. “This includes the potential northern extension of the Wilson’s gold anomaly, which is located just 200m from the Black Swan infrastructure,” Haywood says. “The tenure would also facilitate potential extensions and optimisation of the current Black Swan infrastructure in future, if required. “This is another important step in the company’s plan to become a significant gold producer in the Goldfields of Western Australia.”

Maritana Minerals is focused on becoming the next gold producer via its portfolio of assets located in Australia.