Yep with an MC of only $15M this can support a much greater sp already. once drilling begins watch out.. Then we have the next awaited PJ energy play..
Key highlights Astro Resources NL (ASX:ARO) has reached agreement to acquire the majority interest in the North Doolgunna Gold Project consisting of three (3) highly prospective exploration leases (E52/2480, E52/2481 and E52/2482) covering a combined area of 139.4km2 .
The project is in close proximity to several existing and emerging gold deposits in the dynamic Peak Hill Goldfield, including: the well established and world class Plutonic Gold Mine (Barrick Gold); and the more recent Doolgunna gold‐copper discoveries by Sandfire Resources; the Springfield gold‐copper project of Talisman Mining; the Hermes gold project of Alchemy Resources and Montezuma Minings, Peak Hill gold project.
Limited historic exploration has previously focused on near surface mineralisation providing significant potential for deeper obscured gold mineralisation in a region that historically has been substantially under‐explored.
A robust work program focused on geochemistry, geophysics and drilling will be undertaken to explore the potential for discoveries of a similar type and style to that found in the adjacent areas. Advanced geochemical methods, not available to previous explorers, are expected to assist in the definition of drill targets.
Historical works also indicate that additional potential exists for the discovery of iron ore mineralisation.
Astro Resources Chairman, Mr Peter Jermyn said that the acquisition of the North Doolgunna portfolio represents another key building block in the Companys strategy of identifying and securing exciting mineral projects of significant size and value.
"We are extremely pleased to have secured the North Doolgunna Project which is strategically located in the middle of one of the most exciting gold and gold‐copper environments in Western Australia. The Peak Hill Goldfield hosts the Plutonic Gold Mine and the recent highly exciting discoveries by Sandfires at their nearby Doolgunna project. The area has become a rapidly expanding and dynamic region for poly‐metallic exploration, said Mr Jermyn.
ARO Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
