Strategic Minerals Corporation (ASX:SMC) has received an unconditional, on market takeover offer of $0.035 per share from the unlisted company, QGold.
SMC is capitalised at around $21 million and last traded at $0.028.
SMC's flagship project is the Woolgar Gold Project in Queensland and includes the Mowbray, Big Vein and Big Vein South prospects.
Extensive vein occurrences, scattered historic workings and coincident gold in soil anomalies have been identified in previous surveys by the company.
Previous intersections include 8 metres at 28.2 g/t gold at Big Vein including 2 metres at 110 g/t gold.
The regional area includes multi-million ounce gold deposits developed at Kidston (4.1 million ounces), Charters Towers (7.1 million ounces), Mt Leyshon (3.2 million ounces) and Pajingo (3.2 million ounces).
