Evergreen snaps up 'transformational' Leonora Goldfields Project
Evergreen Lithium Ltd (ASX:EG1) has taken steps to redefine itself as an emerging producer, through the acquisition of the Leonora Goldfields Project (LGP) in Western Australia.
Located in the state’s central gold district, the tenement package includes 13 mining leases/prospecting licences plus 2 exploration-stage tenements. Nearby are several world-class deposits, including Kin of the Hills – containing more than 4 million ounces (Moz) and the 6Moz Sons of Gwalia.
LGP is considered highly prospective through its current JORC resource of 63,000 ounces of gold in the inferred category, as well as an exploration target of 592,000 ounces at 3.6 grams per tonne (g/t).
Both historical data and more recent drilling work have contributed to the latter.
The project also has prime access to outstanding mining infrastructure, with four processing plants located just within haulage range (<80km).
Evergreen is looking to progress exploration and development activity to move towards gold production as soon as possible.
EG1 has been trading at 3.9 cents.
Evergreen snaps up 'transformational' Leonora Goldfields Project
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