Bardoc completes project acquisition
PERTH (miningweekly.com) – Gold junior Baroc Gold has completed the acquisition of the Mayday and North Kanowna Star gold projects, in Western Australia, adding 111 600 oz of gold to its portfolio.
Bardoc in September this year struck an agreement to acquire the two projects in return for 12-million fully paid ordinary shares and a future production royalty of A$15/oz for the first 50 000 oz produced.
Bardoc CEO Robert Ryan on Wednesday said that the completion of the dual acquisition cleared the way for an exciting new phase of exploration drilling at the Bardoc gold project.
“With the acquisition of the Mayday and North Kanowna Star projects now complete, we have begun access preparations to mobilise drill rigs to site, with drilling set to begin as soon as we complete the current round of follow-up drilling at El Dorado.”
The tenements have had minimal modern exploration, and offered numerous opportunities and walk-up drill targets, including immediate extensions to the currently defined mineral resource.
Ryan said that the acquisition was consistent with Bardoc’s strategy of establishing a sizeable gold mineral resource base in the Kalgoorlie district through a combination of strategic exploration and merger and acquisition opportunities.
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