Duketon secures option on Boodanoo gold project
ASX-listed Duketon Mining has entered into an option agreement to acquire the Boodanoo gold project, located about 80 km south-southeast of Mount Magnet in Western Australia.
The company said on Tuesday that the option provided access to a highly prospective gold exploration asset, with 2021 soil sampling outlining a 2-km-long anomaly that has never been drill tested.
“We are excited to announce the option to acquire the Boodanoo gold project, which will further enhance our exploration portfolio in a highly prospective region of Western Australia,” said Duketon MD Stuart Fogarty.
“The soil sampling results outline a sizable anomaly that has never been drill tested. The Boodanoo project further builds out our gold exploration portfolio in Western Australia and creates further optionality to our shareholders. This is aligned with our strategy of acquiring low entry cost projects that can be rapidly advanced through the exploration process.”
Under the terms of the agreement with Western Yilgarn, Duketon will pay a non-refundable A$7 500 for an exclusive 12-month option to acquire 100% of exploration licence E59/2881. To exercise the option, Duketon will issue 500 000 fully paid ordinary shares to Western Yilgarn.
During the option period, Duketon plans to conduct surface sampling and geological mapping to define the extent of the anomaly, with a view to validating it for possible future drill testing.
The Boodanoo project sits on the south-western margin of the Windimurra layered mafic-ultramafic intrusive complex, which has historically been explored for nickel, copper and platinum group elements. Previous soil sampling outlined a gold anomaly extending for about 2 km.
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