There has been another happy marriage in the junior explorer end of town with lithium minnow Kingston Resources tying the knot with TSX-listed WCB Resources with wedding guests, aka investors, welcoming the news.

Shares in Kingston (ASX:KSN) gained 21 per cent to close Friday at 1.7c on the back of the deal which will create a gold and lithium focused development and exploration company in Australia and Papua New Guinea.

The merged company with include a joint venture stake in the advanced Misima gold project in Papua New Guinea which hosts 2.3 million ounce resource, an extensive lithium exploration portfolio in Northern Territory and the emerging Livingstone gold project in Western Australia.

KSN Managing Director Andrew Corbett said the merger created a strong platform for shareholders to benefit from increase in exploration activity at Misima Gold Project, the emerging Livingstone Gold Project and exploration within the Group’s extensive lithium landholding.

WCB President and CEO Cameron Switzer said the company considered the merger to be an outstanding opportunity for existing shareholders.

“The attractiveness of a diversified Australasian development and exploration portfolio, and the focus on advancing the Misima Gold Project and emerging Livingstone Gold Project is set to benefit shareholders,” he said.

“The portfolio approach provides shareholders with exposure to both gold and lithium optionality moving forward”.

The jewel in the crown is WCB’s 49 per cent stake in Misima which has historically produced over 3.7 million ounces of gold.

Historic drill results outside the current resource at the project include 120 metres at 1.57 grams per tonne gold from surface.

Meanwhile, KSN’s 75 per cent Livingstone project is an emerging gold project with a small historical inferred gold resource of 49,000 ounces and a 5km prospective geochemical target.

Recent drilling highlights at Livingstone include 7 metre at 12.59 grams per tonne gold from 35 metres.

Its wholly owned lithium exploration tenements in Northern Territory cover four key project areas. At the priority target, Bynoe project, a maiden drill program included 12m at 1.43 per cent lithium from 121 metres including 9 metres at 1.69 per cent lithium oxide.

The merger is subject to both Australian and Canadian regulatory approvals as well as WCB shareholder approval to take place at a meeting in October.

The merger is expected to be completed in November.

Mr Switzer will retire from the WCB board as an executive director, but will remain as a consultant to the merged company. WCB non-executive directors will retire once merger is wrapped up.