PERTH (miningweekly.com) – Gold miner Regis Resources has struck a deal with fellow listed Aeris Resources to acquire the Blayney exploration project, in New South Wales, for A$3.25-million.
The Blayney project covers 493 km2 and contains two gold deposits with a combined mineral resource of more than one-million ounces.
Regis told shareholders on Thursday that the company believed the project had the potential to augment its own McPhillamy’s gold project, which is contiguous with the Blaney project.
The company noted that it will study the Discovery Ridge deposit, which is estimated to host some 501 000 oz of gold, with a view to generating a satellite openpit operation that can be developed contemporaneously with the McPhillamy’s project.
The McPhillamy’s project is currently subject to a 26 000 m infill resource definition drilling programme and prefeasibility work.