Minerals 260 (ASX:MI6) signed an option agreement with Belararox (ASX: BRX) for 26 tenements in the Coolgardie region of Western Australia, which are adjacent to the former's Bullabulling gold project, according to a Thursday Australian bourse filing.
Belararox will be paid AU$150,000 upon the execution of the agreement. Minerals 260 can elect to exercise the option to acquire the tenements at any time within two years for a further AU$600,000.
During the option period, Minerals 260 will have the exclusive right to conduct exploration activities and apply for miscellaneous licenses over the area of any of the tenements.
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