Golden Mile Resources (ASX:G88) agreed to acquire, through an earn-in joint venture, the Pearl copper project in Arizona, US.
Pearl contains more than 50 historic artisanal workings and hosts two historic copper mines, according to a Monday filing with the Australian bourse.
Under the binding term sheet with Outcrop Silver & Gold, Golden Mile can acquire up to full ownership of Pearl by spending up to AU$12 million over eight years and the grant of up to a 2% net smelter royalty.
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