Platina Resources (ASX:PGM) said it would acquire a 100% interest in the Mt. McKenna gold project in Western Australia by acquiring all the shares in Jasper Exploration, for AU$320,000 cash, the issue of 20 million ordinary shares in Platina, and a 1.5% net smelter royalty, according to a Wednesday Australian bourse filing.

An additional AU$25,000 in cash and 1.75 million shares will be issued in consideration for finders and corporate advisory services in relation to the acquisition, per the filing.

The project is proximate to major mines, deposits, processing plants, and development infrastructure near Laverton.

It is planning a comprehensive exploration campaign for Mt McKenna, including soil and rock chip sampling, gravity survey, and, which will begin after the completion of a cultural heritage survey.