re: Ann: Leopard Acquires Interest in Gold Pr... Proactive...

re: Ann: Leopard Acquires Interest in Gold Pr... Proactive Investors Australia 10 December 2012
"Leopard Resources (ASX:LRR) has inked a deal to acquire a 100% interest in Exploration Licence E37/747 in Western Australia, which contains two established gold prospects known as Cables and Mission.

The tenement consists of 34 graticular blocks and the purchase consideration is 130 million shares.

The transaction is subject to completion of due diligence, obtaining of all required shareholder approvals and execution of formal agreements.

The tenement forms part of the Yandal Belt area which has been a major gold producing region for many years with deposits such as Jundee/Nimary (historical production of 7.3 million ounce), Bronzewing (3.6 million ounce), Darlot (3 million ounce) and Mt McClure (1.8 million ounce).

The 3 million ounce Darlot/Centenary Gold Mine, operated by Barrick Gold, is located 7 kilometres south of the Prospects.

Leopard has already received significant data on the project area with air core drilling at the Cables prospect defining a significant northwest-trending base-of-weathering supergene gold anomaly extending over 1,000 metres of strike.

RC drilling at the Cables Prospect defined at least two narrow, northwest-trending, sub-vertical mineralised structures over 400m of strike, bounding a 100-200m wide zone of alteration and shearing within dolerite.

Historical aircore drilling at the Mission Prospect defined a significant north-to-northwest trending base-of-weathering supergene gold anomaly extending over 400m of strike. The anomaly was associated with two mineralised structures bounding a major shear zone within dolerite.

Leopard plans to raise up to A$500,000 to fund due diligence, project assessment and general working capital."

Spec ..yes but at least some prospects here I think.