Clara signs binding agreement for Hodgkinson Basin gold project acquisition

Core Insights - Clara Resources Australia has signed a binding agreement for the 100% acquisition of the Hodgkinson Basin gold project in Far North Queensland, Australia, which includes three granted exploration permits covering a total area of 265 km² [1][3] Group 1: Project Details - The Hodgkinson Basin is located approximately 90 km west of Cairns and is situated within a historically productive gold region that has yielded over 1.6 million ounces of gold from the Palmer River and Hodgkinson goldfields [2] - The tenement spans more than 13 km of a major regional shear zone and contains over 130 historical exploration drill-holes, providing a solid foundation for further geological evaluation [2] Group 2: Acquisition Terms - To complete the acquisition, Clara will issue 533,333,333 shares and make staged cash payments totaling A$1.25 million (approximately $820,000) [3] - The completion of the deal is contingent upon shareholder approval and other standard conditions [3] Group 3: Future Plans - Clara plans to implement a two-stage exploration program in 2026, aiming for an initial Joint Ore Reserves Committee-compliant mineral resource estimate while evaluating areas with strong exploration potential [4] - The managing director of Clara stated that this acquisition is transformational and that the company has a clear strategy to unlock the project's potential through systematic exploration in 2026 [5][6]