Altan Rio builds its Southern Cross footprint
- Altan Rio has signed a conditional Sale Agreement with Torque Metals (ASX:TOR) to acquire 100% of their Bullfinch Gold Project.
- The Sale Agreement will provide the Company an additional 572km2 tenure.
- The area has numerous historical small gold mines throughout the Sale Agreement area.
- Recorded production grades up to 35.7g/t gold (Withers gold mine).
Altan Rio Minerals is pleased to announce the Company has entered into a Conditional Sale Agreement to wholly acquire Torque Metal’s Bullfinch Gold project (“Bullfinch”), located 34km from the Southern Cross township within the Yilgarn Mineral Field, Western Australia and adjacent to the Company’s existing tenements.
The Bullfinch tenement area covers 556km2 over five exploration licences and one exploration licence application and has recorded historical production grades of 35.7g/t gold at the Withers prospect. The project is located in the Southern Cross Greenstone Belt which has recorded production in excess of 12Moz Au.
“The acquisition of Torque Metals’ Bullfinch Project will add another piece to our consolidation of the northern portion of the Southern Cross goldfields. Since the start of the year, we have more than quadrupled our tenement holding which is a great achievement by the team,” Altan Rio Minerals Interim CEO, Graeme Sloan said.
“Previous exploration has identified numerous gold bearing quartz reefs over a 3km strike length at Withers prospect, while the limited historic drilling has returned highly encouraging commercial grade gold results at Rutherfords Find and Reynolds Find. Our next steps post-execution of the Sale Agreement will be field mapping and sampling to evaluate drilling plans initially at priority targets.”
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