Gorilla Gold Mines (ASX:GG8)has exercised its option to acquire the residual 49% of the Comet Vale Project, increasing its existing controlling interest in the project from 51% to 100%, according to a Tuesday Australian bourse filing.
The project hosts a mineral resource estimate of 96,000 ounces at 4.8 grams per tonne gold and lies within granted mining leases, adjacent to the Goldfields Highway in a region with multiple operational gold mills within a 100-kilometer radius of the project area.
The company intends to grow the high-grade gold resource base at the Project.
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