Albion Resources secures Gidgee Project option

• Albion Resources has secured a three-month option to acquire four exploration licences covering 27km2 adjacent to its flagship project.
• The deal requires an initial payment of $10,000, with a further $40,000 due upon settlement if exercised.
• The move expands the company's footprint near key targets like German Well South in Western Australia's Gum Creek greenstone belt.

Albion Resources (ASX:ALB) has executed an agreement securing a three-month option to acquire four exploration licences covering approximately 27km2 near its Gidgee Project.

The agreement follows the company's recent acquisition of the core project area as it prepares for its initial drilling campaign.

“The exercise of the Gidgee option represents an important step for Albion, securing a high-quality gold exploration asset with a clear pathway to drilling,” said Albion Resources CEO Peter Goh.

Under the terms of the transaction, the company will pay an upfront option fee of $10,000, a further $40,000 upon settlement if exercised, and up to $2,500 for rent reimbursements.

Following the announcement, the Albion Resources share price was unchanged at $0.060.

The junior exploration business focuses primarily on identifying gold and base-metal opportunities across Western Australia. Its key operations centre around tenements in the Gum Creek and Yandal greenstone belts.