WPG Resources (ASX:WPG) has received Ministerial approval for...

WPG Resources (ASX:WPG) has received Ministerial approval for the transfer of EL 4812 and EL 4495 covering the Tunkillia Gold Project in South Australia from Helix Resources (ASX:HLX).

In November, the company moved to full 100% ownership of the project by acquiring the remaining 30% stake held by Helix.

The transfer of the tenements from Helix will now be finalised upon registration of the Sale and Purchase Agreement and Instrument of Transfer in the Mining Register.   

WPG has withdrawn the previous Mining Lease Proposal that was submitted in Helix’s name, allowing it to re-apply for a Mineral Claim and then re-submit the MLP in its own name.   

Tunkillia Gold Project

WPG acquired 70% of the project in May 2014 from Mungana Goldmines Limited (ASX:MUX). It subsequently acquired the remaining 30% from Helix in November.

Tunkillia a contained Resource of 878,000 ounces of gold and 2.5 million ounces of silver.

Mineralisation was first discovered by Helix in late 1996, during a drilling program to test an extensive surface geochemical anomaly defined from calcrete sampling.

Subsequent to the initial discovery, progressive evaluation of the project has been undertaken through joint venture arrangements.