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Redcastle Resources (ASX:RC1) has wound up its acquisition of a further 72sq.km of land in what reflects a sixfold increase for its overall acreage “in the heart of one of Australia’s most prolific gold producing districts,” pointing to existing infrastructure.
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This content has been prepared as part of a partnership with Redcastle Resources Ltd and is intended for informational purposes only.
Describing itself as well funded to continue operations as an explorer, RC1 now joins a slew of historical and active miners in the Laverton region of WA with this latest land grab described as the ‘TBone Belt’ acquisition (a nod to the underfoot Leonora Laverton Greenstone Belt).
Across the expanded envelope lie 4 granted mining leases, 5 applications, and 53 prospecting licences (with another 2 applications in the pipeline.) All in all, it’s costing RC1 $1.7M.
“Completion of the transaction is a major step in Redcastle’s growth strategy. The strategy is based upon unlocking significant district-scale exploration potential as well as capturing synergies with the Company’s existing Redcastle Project Area,” the company wrote on Thursday.
RC1 last traded at 1cps.
Disclaimer: HotCopper had a commercial relationship with RC1 at the time this article was crafted and published.
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