GREAT Australian Resources has entered into an option agreement with New Zealand company Southwest Exploration to acquire a large gold project area on New Zealand’s South Island within the Longwood Goldfields area.
Under the terms of the agreement, Great Australia may acquire up to 90 per cent equity in the project through exploration expenditure commitments.
Alluvial gold mining was carried out in the area in the 1800s with one of the areas reported to have more than 100,000 ounces of gold.