- Bardoc Gold has purchased two new projects, increasing its resource by 111,600 ounces
- The projects are located near its flagship gold project, increasing its land-holding by 10 per cent
- The company believes the projects are under explored and will provide significant exploration
- Bardoc’s share price is up 8.7 per cent today, currently sitting at $0.12 apiece
Bardoc Gold has purchased two strategic gold projects, increasing its resource by 111,600 ounces.
The two new buys reside close to the company’s fully-owned Bardoc Gold project, located in Western Australia.
The Bardoc Gold flagship project has a mineral resource of 2.6 million ounces.
Newly acquired Mayday North’s mineral resource sits 79,300 ounces and North Kanowna Star’s mineral resource is 32,300 ounces.
The company believes the projects to be under-explored and expects they will provide solid exploration and resource extension upside.
Bardoc’s CEO Robert Ryan said the purchases fit in with the company’s strategy to increase its presence as a gold producer in the Kalgoorlie region.
“The strategy is currently enjoying the tailwind of a record Australian Dollar gold price which is opening up fresh opportunities across the entire Kalgoorlie district,” Robert commented.
This includes “forgotten deposits that now present as outstanding resource development and exploration opportunities,” he added.
Adding Mayday North and North Kanowna Star to portfolio increases the Bardoc projects land-holding by 10 per cent.
Bardoc issued 12 million of its shares for the purchase of the projects, and the first 50,000 ounces produced from the two will incur a $15 royalty.
Shareholder’s responded favourably to Bardoc’s purchases today. By market close the company’s shares increased 8.7 per cent, coming in at $0.12 apiece.