Caprice Resources (ASX:CRS) has completed its transaction with Maverick Minerals Australia (ASX:M96), under which Maverick has acquired a 75% interest in the West Arunta project in Western Australia, according to a Friday Australian bourse filing.

The deal has a total value of AU$2.9 million, consisting of AU$2.7 million in cash paid at completion and AU$190,000 in deferred equity, which will be issued when on-ground exploration begins, per the filing.

The company holds AU$13.8 million in cash as of March 31, supported by recent proceeds, enabling continued exploration and drilling at its Murchison gold projects toward delivering a maiden mineral resource estimate within the year, the filing said.

Caprice Resources retains a 15% interest in the group one tenements and a 25% interest in the group two tenements following completion, together with a free-carried interest through to decision to mine, the filing added.