In April 2017, Discovery Africa Limited (ASX: DAF - “Discovery Africa”or “Company”) executed a Heads of Agreement (HOA) with Bruce Robert Legendre (“BRL”), granting the Company a one-year option period to purchase a 100% interest in the Cue and Pinyalling Gold Projects in Western Australia.
The Cue Project comprises two contiguous tenements – Prospecting Licence 20/2088 (196 hectares) and Prospecting Licence 20/2089 (39 hectares), located immediately to the north of the Cue township. Cue is located 650km north of Perth on the Great Northern Highway. The Cue Project area is readily accessible by vehicle via numerous roads and tracks.
The Pinyalling Project consists of Exploration Licence 59/2112 covering 18 blocks (54km²) and is about 400km northeast of Perth. Access is via the Great Northern Highway from Perth to Paynes Find‐Yalgoo road. This road gives access to the Pinyalling Mining Centre, about 30km west of Paynes Find.
The Company’s near-term strategy to advance the Projects is: