Australia-based Alta Zinc has agreed to sell the Paterson Project exploration which is held by its subsidiary Nickelex Pty Limited.
Alta Zinc will sell its stake to Wishbone Gold PLC; 600,000 fully paid ordinary shares and Alta Zinc will be entitled to receive 1pc net smelter royalty from Wishbone on all mined minerals.
Alta Zinc’s main focus would remain Gorno Zinc Project and Punta Corna Cobalt Project in Italy. Alta Zinc has now divested all their Australian exploration assets. Paterson Project contains copper, lead, zinc, silver, and other base metals.