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- 6,600m RC program testing eight high-priority prospects across 84 planned holes
- Targeting strike extensions of mineralisation from Mt Stirling deposit
- Six of eight prospects sit within 1.5km of the planned Mt Stirling and Mt Stirling Well mining operations
- Rock chip sampling has returned strong gold grades from historic workings
GoldArc Resources (ASX: GA8) has commenced a major reverse circulation (RC) drilling program at its Leonora North gold project located in the prolific Leonora-Laverton greenstone belt in WA.
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The 6,600m program comprises 84 planned holes across eight prospects and is the largest exploration drilling campaign undertaken at Leonora North since the maiden mineral resource estimate was declared at Mt Stirling.
It follows approval of the Mining Development and Closure Proposal (MDCP) for the Mt Stirling and Mt Stirling Well deposits earlier this month, which cleared the final regulatory hurdle before development activities can commence.
Six of the eight prospects to be tested lie within 1.5km of the planned operations.
MD, Paul Stephen, said mineralisation added within that radius can be brought into the mine plan and developed through the partnership with BML Ventures, meaning exploration success can be converted into production in the near term rather than requiring a separate development funding decision.
“2026 has been a transformational year for GoldArc, with more than 75,000m of drilling completed,” Mr Stephen said.
“Almost all of that work went into de-risking ounces we already had, and this program is the opposite, it is aimed squarely at new discoveries.
“Six of these eight prospects have never had a drill rig on them, and every one of them is close enough to the planned pits that a discovery can go into the mine plan and be funded by BML Ventures rather than by our shareholders. We have historic workings on this project that returned rock chips above 49 grams per tonne and have never been drill tested, so this is the cheapest ounce growth available to us and we intend to chase it hard.”
Mr Stephen pointed out that the planned 6,600m of RC drilling is distinct from the 34,000m grade control campaign completed at Mt Stirling and Mt Stirling Well,
“It represents the most meaningful exploration drilling at the project since in more than five years.”
GA8 was up 3.28% to 6.3¢. Mkt cap $41.78M.
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