Dampier Gold Limited (ASX:DAU) announced the successful completion of its due diligence on the Credo Well Project in accordance to the binding terms sheet dated 4 October 2019 with Torian Resources Limited (ASX:TNR). The Company updated its willingness to proceed to earn a Farm-in Interest in the Tenements comprising the Credo Well Project, with 6 January 2020 being the commencement date for the same.
Dampier has identified several priority targets which it will test with detailed drilling.
Under the agreement, the company has a right to a 25% interest in the Credo Tenements by incurring expenditure on the Credo Tenements of A$0.5m no later than 15 months from the Commencement Date.
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