Agrimin (ASX:AMN) announced a binding agreement to acquire the Mount Squires Project from Caspin Resources (ASX:CPN).
The transaction involves Agrimin acquiring 100% of the shares in Opis Resources, a subsidiary of Caspin that holds the project’s tenements.
Located in the highly prospective West Musgrave region, the project spans a 30km corridor situated along strike from the significant Nebo and Babel nickel-copper deposits.
The positioning places Agrimin in the heart of an established mineral province, offering high-priority targets for both base metal mineralisation and gold.
The acquisition comprises two granted exploration licences and four pending applications.
Historical data from the site has already confirmed the presence of shallow basement gold mineralisation and camp-scale anomalies.
Executive Director Michael Hartley noted that the project complements Agrimin's existing tenure in the West Arunta and leverages the company's proven expertise in managing remote operations within Western Australia’s desert regions.
Under the terms of the agreement, Agrimin will issue Caspin 5 million ordinary shares and 5 million options—with an exercise price of $0.14 and an expiry date of Dec. 31, 2028—upon completion of the deal.
At the time of reporting, Agrimin’s share price was $0.081.