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Recently re-badged Vita Resources (ASX:VTA) has received official approval to begin its maiden exploration program at the Ninnis gold project, with the program of work approval from the Western Australian government clearing the way for the company to mobilise to-site in the Northern Goldfields region in March.
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Vita, formerly Bastion Minerals, now plans to undertake the drilling of approximately 1,200 auger holes, followed by assaying and a geochemistry review.
“Historical exploration consistently pointed to strong Ninnis potential, as did our independent expert’s report, which mentioned newly identified gold-in-soil anomalies,” Vita’s non-exec chairman, Gavin Rutherford, said.
“The Ninnis project is yet to benefit from larger-scale, modern exploration. As such, we will commence exploration with an auger geochemistry program, which is a fast, accurate and cost-effective method to provide Vita with direction on the next steps forward.
“Future programs are likely to include infill auger work or traditional drilling, potentially paving the way for a broader exploration campaign.”
Vita acquired Ninnis in November CY25 when it executed a share sale and purchase agreement to buy Muskwood Pty Ltd and the E39/2110 permit – and has been working towards a project start ever since.
The 25 square kilometre E39/2110 permit is located approximately six kilometres north of Genesis Minerals’ (ASX:GMD) Mount Morgans gold mining centre.
Other nearby major gold operations include Granny Smith (2.380 million ounces of gold) and Magnetic Resources’ (ASX:MAU) projects located to the east, including the Lady Julie project (its MRE stands at 2.1M ounces).
“The Ninnis project has demonstrated similar geology to the Mount Morgans gold mine, including mafic rocks and banded iron formations (BIF) along its western side. The eastern side of the Ninnis project area features a sheared contact zone with granite, known as the Ninnis shear,” Mr Rutherford said.
Vita was successful in completing a name and ASX code change last month following the successful integration of a new management team in CY25. The company is now focused on building a new strategy to include early-stage WA gold assets, which began in November with the Ninnis acquisition.
Vita’s portfolio also includes the ICE copper-gold project in Canada, with an estimated indicated resources of 5.76M tonnes at 1.09% copper.
VTA is steady at 4.5c; mkt cap $3.29 million.
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