Evolution signs up for South Gawler

Gold miner Evolution Mining has entered into a farm-in joint venture (JV) agreement with a subsidiary of fellow-listed Terramin Australia over the South Gawler gold project, in South Australia. Under the terms of the agreement, Evolution could earn a 70% interest in the project by spending A$4-million on exploration over the next four years. The ASX-listed company could earn an additional 10% by spending a further A$2-million over two years, after which a pro-rata period would operate.