Astral Resources (ASX:AAR) signed a letter of intent with Mineral Mining Services (MMS) to form a joint venture for its Think Big Gold project in Western Australia, according to a Monday filing with the Australian bourse.

The mining services provider will fund the development and commercialization costs at the project, and will receive no less than 30% and no more than 50% of a share in the project, following the recovery of its costs, the filing said.

The deal includes a 90-day exclusivity period for negotiations and execution of definitive, binding agreements, the filing said.