Labyrinth retains deposit as sale of Canadian gold project falls through
ASX-listed Labyrinth Resources has announced the termination of the sale and purchase agreement for its namesake gold project in Canada. The termination comes as a result of the buyer, Gold Projects WA, reportedly failing to fulfill its obligations.
The termination would take effect on Friday and Labyrinth said it would retain the nonrefundable A$255 000 deposit.
The company stated that it would update the market promptly regarding its plans for the project.
Located in Quebec, the Labyrinth project boasts a mineral resource of 500 000 oz at 5 g/t gold.
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