Image: Thares2020/stock.adobe.comNagambie Resources has signed a binding term sheet with Alkane Resources for a proposed joint venture covering the Nagambie mine and nearby exploration ground in Victoria. Under the proposed deal, Alkane would be able to earn up to an 80 per cent interest in the project by spending up to $27.5 million on exploration and development. Once the earn-in is completed, the companies would form an unincorporated joint venture, with Alkane managing the project. The joint venture would focus on exploration drilling and potential mine development at the Nagambie mine. Nagambie Resources will retain full ownership of its Whroo mines gold-antimony project and Wandean gold-antimony project, which are not included in the proposed joint venture.