Northern Star, Pioneer in WA gold mine JV

Pioneer Resources has struck a deal to enter a West Australian gold joint venture with Northern Star, pending state government approval.

Northern Star Resources will acquire a 20 per cent stake in Pioneer Resource's Acra Gold Project for $500,000.

Pioneer says Northern Star has the option to acquire a further 55 per cent stake if it funds $3 million in exploration and expenditure on the West Australian gold mining project over the next three years.

Pioneer will also have the option of selling its remaining 25 per cent stake to Northern Star, if the joint venture secures state government approval.