THE Tunkillia gold mine project 200km northeast of Ceduna is a step closer to reality after Brisbane based Mungana Goldmines bought a 55 per cent stake in the project from Minotaur Exploration for $6 million.
The other key stakeholder in the project is Perth mining company Helix Resources, which has a 45 per cent interest in the venture.
The project, intended to become a medium-sized gold mine, is still in its early stages but is expected to get underway in 2014.
The site, which was discovered in 1996, is one of the largest untapped gold deposits in the state.
It was one of the first gold discoveries in the Gawler Craton.
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