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Bardoc consolidated landholding near Kalgoorlie

8th May 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold junior Bardoc Gold has moved to consolidated tenements in Western Australia, striking a deal with fellow listed Torian Resources to acquire a package of 40 tenements covering 49 km2 in and around its own 2.6-million ounce Bardoc gold project.

The deal gives Bardoc full ownership of a contiguous tenement package covering 40 km strike length along the Bardoc tectonic zone and the Black Flag fault, which are two key regional gold hosting structures underpinning Bardoc’s growth strategy in the Eastern Goldfields.

“This acquisition is consistent with our corporate strategy, which is to build a sizeable and high-quality gold resource in the Kalgoorlie region. The new tenure expands the Bardoc gold project by over 20% in land area in a highly prospective mineralised corridor,” said Bardoc CEO Robert Ryan.

“Exploration to date has focused on new techniques and technology, culminating in the impressive results released in recent months. Bardoc will now apply our learnings to the new tenure and develop new exploration targets where historical exploration has been ineffective.”

Under the terms of the purchase agreement, Bardoc would pay A$150 000 in cash, with the sale subject to the necessary government consent.


Torian told shareholders on Wednesday that the divestment of its Bardoc project was the first divestment to be undertaken by the company in line with its strategy to rationalize its extensive 530 km2 Western Australian gold exploration portfolio, to allow the company to focus on its core projects in the Kalgoorlie district.

Torian is continuing discussions with a number of parties in relation to its remaining non-core assets, and is evaluating options for the continued exploration of its projects.

Edited by Creamer Media Reporter

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