White Rock gets the keys to the Woods Point Gold Project
Hello investors,
White Rock completed the merger with AuStar Gold late August, and we now have a third exciting asset in the company's portfolio.
The Woods Point Gold Project, east of Melbourne, and in one of the largest historical goldfields in Victoria, comes with an under-explored 670km2 tenement package, several mining leases, a functioning underground gold mine and an 80,000tpa gold processing plant.
We describe a bit more about this asset in the Announcement below.
White Rock Minerals secures a strategic Victorian gold land package, mine and gold processing facility
I did an interview to also put some colour around why we think this is a genuinely exciting asset and the regional and in-mine exploration opportunities it offers. Importantly, any exploration success can be monetized through an existing gold processing facility - a key strategic asset for us.
Matt gives an interview on the Woods Point Gold Project acquisition
Over the coming months, we will explain more about our intentions and progress - we already have one diamond drill underground at the Morningstar mine, and a second is planned. This mine, adjacent to the gold processing plant, located at Woods Point, has past production in excess of 800,000 ounces at a grade above 26g/t. We see great potential to continue to discover more reefs here.
We see the greatest potential in the large strategic land package, under-explored with little systematic exploration applied to date. Again, we will explain our intentions and plans here over the coming months. Given this goldfield has yielded 6M ounces historically, and with world-class gold deposits like the Cohen's Reef (1.5M ounces) and Morningstar (800,000 ounces) in this field, we believe there lies the great opportunity to find another of these (or more, but let's not get too greedy!).
We continue to have a diamond drill turning in Alaska, some 20 personnel on the ground there still exploring, and we hope assay results start to flow over the next few weeks.
And the joint venture with ASX-listed Thomson Resources, advancing our gold and silver project at Mt Carrington in NSW, progresses also.
Lots happening!
Matt
