Vector Resources has announced it has completed the acquisition of a portfolio of highly prospective gold tenements near Leonora.
The portfolio, known as Muriels Extension, consists of one mining lease and eight adjoining prospecting licences covering a combined 1,772 hectares, 43 kilometres north east of Leonora.
Some 35 million ounces of gold have been recorded from over 20 major deposits within 80km of the tenement portfolio, Vector said.
Vector first announced it would acquire Muriels Extension from prominent Kalgoorlie-based prospectors Bob Fagan and Cranson Edwards in February.
Terms of the agreement include a $250,000 cash payment and share issues, based on project related milestones.
Messrs Fagan and Edwards will also join Vector as strategic advisors, with direct responsibility over the tenements.
Mr Fagan is a former senior lecturer in Geology at the Western Australian School of Mines, and Mr Cranston a professional prospector with 25-years experience in the Goldfields.
At close of trade today Vector had gained a cent, to trade at 12 cents.
