Minerals 260 (ASX:MI6), through its Bullabulling Operations No. 2 subsidiary, entered into binding agreements with mining firm Geko Explore to secure joint venture interests across prospective tenure near the Bullabulling project in Western Australia, according to a Thursday filing with the Australian bourse.

Consideration for the transaction is AU$7 million, including AU$3.5 million cash and 4.5 million shares in the company, with completion expected in two business days, the filing said.

The company found areas for immediate exploration with the priority targets located near the Kraken and Dickson deposits, per the filing.