ASX-listed Walkabout Resources has acquired the remaining 25% stake in JDH Exploration for £100 000, giving it full ownership over 750 km2 of prospective exploration licences in south-west Scotland.
JDH holds two Mines Royal options with State-owned property corporation Crown Estate Scotland, in Dumfries and Galloway.
These areas are known for their historic mining of lead, zinc and silver, but have not undergone any modern systematic mineral exploration since a regional programme was conducted by the British Geological Survey in the 1980s. The programme identified several anomalies in addition to the numerous old mines in the region.
Walkabout CEO Andrew Cunningham says the relatively early buy-out of the remaining 25% of JDH supports the company’s view on the mineral prospectivity of the region.
“Complete ownership will give Walkabout much more flexibility and leverage to execute its strategy in the region.”
The company currently has diamond drilling under way at the Blackcraig project, where results are expected early this year.
Walkabout also owns the Lindi Jumbo graphite project, in Tanzania.