Mount Burgess Mining is set to acquire two advanced gold projects in Western Australia from Falcon Metals and Metal Hawk, increasing its exposure to the gold sector.
The first project to be acquired by Mount Burgess is the Viking gold project, located 30km east of Norseman.
Considered an “exciting high-grade gold opportunity”, drillhole intersections recorded in 2022 by Falcon Metals from the Beaker 2 prospect include 6m at 64 grams per tonne (g/t) of gold from 50m.
Mount Burgess believes previous exploration highlights potential for “a significant mineralised system”. The company plans to carry out additional drilling to gain a better understanding of the gold mineralisation, the majority of which remains open along strike and at depth.
The second project to be acquired by Mount Burgess is the Blair North gold project, located 25km east of Kalgoorlie.
Blair North has been previously explored by Metal Hawk, where nickel sulphide and primary gold mineralisation was identified at the Commodore and Commodore North prospects.
Drillhole intersections from the Commodore prospect include 1m at 5.9 per cent nickel from 144m and 5.9m at 6.7g/t of gold from 244m, and drillhole intersections from the Commodore North prospect include 8m at 0.96g/t of gold from 74m and 4m at 1.69g/t of gold from 96m.
Mount Burgess is expected to carry out further drilling targeting additional zones of high-grade gold mineralisation along the Commodore trend.
“We are delighted to have secured these two exciting West Australian gold projects,” Mount Burgess executive chairman Steve Lennon said.
“We believe this a great result for (Mount Burgess) shareholders as we look forward to realising the potential of these highly prospective and underexplored tenement packages.
“Commencing gold exploration on these projects will be the company’s immediate focus as we endeavour to get on the ground and start work as soon as possible.”
The company has commenced applications for programme of works approvals, with the aim to commence drilling at Viking and Blair North in the fourth quarter of 2025.
Once the acquisition and a parallel $900,000 placement have been finalised, Metal Hawk will own 17.5 per cent of Mount Burgess, and Falcon Metals will hold a 7.8 per cent stake.
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