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Regis Resources Announces Acquisition of Large Strategic Tenement Holding from Duketon Mining

Mining News - Published on Thu, 29 Aug 2019

Image Source: au.investing.com
Mr Jim Beyer MD of Regis said that the considerable expansion of our landholding around our three mills provides a tremendous opportunity to invest further in exploration to expand the resource base and extend the mine life of our Duketon Operations. Being able to accelerate greenfields exploration in an area which has previously been underexplored and is host to major shear zones and the extension of our existing orebodies is an immediate opportunity for the Company. We are very excited to be able to apply our knowledge of the mineralisation and deposits at Duketon to work towards further exploration success.

Highlights
1. Acquisition of a large strategic tenement holding from Duketon Mining Ltd for USD 20m cash and up to USD 5 million in contingent payments

2. Regis now controls 90% of the gold rights in the Duketon Greenstone Belt, tripling its landholding to ~3,000km2, along strike and adjacent to its existing resources and processing plants at Moolart Well, Garden Well and Rosemont

3. Immediate work will be initiated to expand advanced exploration prospects including:
o Lancefield North1 - Inferred Resource of 1.9Mt @ 1.5 g/t Au for 96,000 ounces o Golden Star2 - significant intersections: 50m @ 1.6g/t Au incl. 17m @ 3.8g/t Au and further downhole 16m @ 2.3g/t Au incl. 8m @ 4.3g/t Au o McKenzie Well3 (3km from Garden Well mill) - significant intersections: 16m @ l.Og/t Au and 9m @ 2.1g/t Au not drilled along strike onto Regis tenure o Petra - now able to extend north onto Duketon Mining tenure

4. Expanded greenfield exploration activities to accelerate new discoveries

5. DKM to retain nickel rights over five of the tenements

Source :

Posted By : Rabi Wangkhem on Thu, 29 Aug 2019
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