WA-BASED gold mining junior Cougar Metals has acquired the gold development project, Alta Floresta, in the northern part of Mato Grosso State in central west Brazil.
According to the company the project consists of a number of tenement applications covering 2,400 square kilometres.
Cougar is in the process of constructing a rig and having it sent over to Brazil since the country has limited capacity to provide the necessary drilling services.
Cougar’s share price jumped 30 per cent on the news to 9.5 cents.
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