Platina Resources (ASX:PGM) farms out to Chalice Mining (ASX:CHN)

Platina Resources (ASX: PGM) will jointly venture its 200? Mt Narryer gold project, in Western Australia, with Chalice Mining (ASX:CHN).

Chalice Mining will first earn a 51% interest by spending $600,000 over two years, with the option to earn an additional 24% by spending a further $1.8M over the next two years.

Chalice has a market cap of over $2.2B and a proven track record of discovering mineral deposits.

Platina Resources says the joint venture will free up its resources to focus on its other key projects in Western Australia.