Australian explorer, Horizon Minerals Limited (ASX: HRZ) reached an agreement worth $1.5 million in cash and shares with Cyprium Metals Limited (ASX: CYM) to divest the Nanadie Well copper project.
The project lying near Meekatharra, stationed in the Murchison District of Western Australia was taken 100% control by Horizon in the December quarter 2019 following the withdrawal of its then joint venture partner.
The divestment encompasses exploration license E51/1040 and Mining License M51/887, which covers 45km2. Completion is expected in the next four weeks, subject to standard conditions precedent while Horizon remains concentrated on developing a stand-alone gold project in the Kalgoorlie and Coolgardie regions.
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