West Australian exploration and development company Duketon Mining has signed an option agreement to acquire the high-grade Killarney gold project in the Murchison region, marking a strategic expansion of its exploration portfolio.

Located 63 km east of Mount Magnet, the Killarney project comprises two granted tenements covering 50 ha in a historically gold-rich area. Duketon’s due diligence has confirmed gold mineralisation, with recent rock chip samples returning grades as high as 51.5 g/t. Historical sampling in 2018 included assays of up to 485 g/t, underscoring the project’s high-grade potential.

“We are excited to announce the option to acquire the Killarney gold project, which represents a fantastic opportunity to enhance our exploration portfolio in a highly prospective region of Western Australia,” said MD Stuart Fogarty. 

“The rock chip sampling results, with grades up to 485 g/t gold, the previous small-scale, high-grade mining and the covered nature of the area adds to our enthusiasm to commence systematic exploration, in particular drilling. The Killarney project aligns with our strategy of growing our gold asset base and creating value for shareholders.”

Under the agreement, Duketon will pay A$50 000 for a 12-month exclusive option to acquire 100% of the Killarney project. The company may exercise the option at any time during this period by issuing two-million fully paid ordinary shares to the vendor. Duketon said the vendor is a privately owned, unrelated entity and that the tenements are in good standing.

The company plans to start surface sampling, geological mapping and drilling to delineate the extent and continuity of mineralisation. It noted that the main high-grade structure is under transported cover, which may have impeded previous discovery efforts.

Earlier mining at Killarney yielded about 20 kg of gold from four tonnes of material, highlighting the area’s potential for small-scale, high-grade production. Additional historical samples collected 400 m south-east of the main site included grades of up to 140 g/t gold, although Duketon has not yet verified those results owing to rehabilitation of the area.