Trigg Minerals has completed the acquisition of 90 per cent interests in four new licence areas in north Queensland from Boadicea Resources (BOA).
The transfer of ownership is subject to final approval by the Queensland Government’s Department of Resources.
While Trigg waits for approval, the companies have executed a deed under which Trigg will assume the operating rights and expenditure commitments on behalf of BOA.
“We are pleased to have completed this acquisition which expands our portfolio and provides more potential gold targets for exploration,” Trigg executive chairman Timothy Morrison said.
“It is our goal to advance these new projects concurrent to already planned activity, which will add valuable targets for an expanded campaign.”
The acquisition will encompass over 214 square kilometres of land at the margin of the Drummond Basin.
Trigg has also acquired a 90 per cent interest in the Bosworth tenement.
The Trigg team is currently completing target assessment through the available project digital database and will now undertake a pre-campaign assessment of drill pads and access roads.
To date, Trigg has paid $20,000 in cash and will issue $300,000 in shares to BOA. The team is assessing gold targets across the tenements as it plans for drilling to begin in the second quarter of this year.
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