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Duketon Mining (ASX:DKM) is adding the high-grade Killarney gold project – which has experienced no systematic exploration but has yielded rock chips grading up to 394 grams per tonne – to its portfolio.
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The company has entered into an option agreement to acquire Killarney, which comprises two granted tenements across 50 hectares in Western Australia’s Murchison region, 63 kilometres east of Mount Magnet.
“We are excited to announce the option to acquire the Killarney Gold Project, which represents a fantastic opportunity to enhance our exploration portfolio in a highly prospective region of Western Australia,” MD Stuart Fogarty said.
Historic rock chip sampling in 2018 yielded strong samples, including 485g/t Au, 422g/t Au, 394g/t Au, 326g/t Au and 283g/t Au.
Duketon’s recent due diligence program at Killarney has followed this up with samples including 51.5g/t Au, 47g/t Au, 39g/t Au and 34.1g/t Au.
“Rock chip sampling, with grades up to 485g/t Au, the previous small-scale, high-grade mining and the covered nature of the area adds to our enthusiasm to commence systematic exploration, in particular drilling,” Fogarty explained.
Although the project has never been drilled or subject to geochemical testing, some limited mining was taken from a parallel substructure, with around 20 kilograms of gold from an estimated four tonnes of material.
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Mr Fogarty concluded: “The Killarney Project aligns with our strategy of growing our gold asset base and creating value for shareholders.”
DKM shares have been trading at 8c each early on Thursday morning.
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