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Explorer GoldArc Resources (ASX:GA8) is ramping up CY26 exploration activities at the Mt Stirling gold deposit in Western Australia, with an approximately 34,000-metre grade control (GC) drilling program now underway at Mt Stirling, part of the company’s Leonora North gold project.
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GoldArc’s managing director, Paul Stephen, said the beginning of drilling in the northern sector of the deposit is a key milestone for the company as it moves to de-risk and support future mining operations.
“The commencement of this extensive grade control program is a pivotal step for the Mt Stirling gold deposit,” he explained to shareholders today.
“Working alongside the experienced team at BML Ventures, we are now moving rapidly from an exploration-only focus to one of operational readiness. This program ensures that our transition to potential mining is backed by robust, high-resolution data.”
In December, GoldArc signed a definitive strategic partnership agreement with mining operator BML Ventures for the development and operation of the Mt Stirling and Stirling Well tenements. The partnership features a profit share mining agreement as well as a $2.5 million profit cash advance facility agreement.
Mr Stephen said the now-signed agreements have significantly accelerated the projects towards production while providing immediate, non-dilutive funding to GoldArc for broader exploration.
In addition to the GC program, GoldArc is undertaking soil sampling northeast of the Mt Stirling gold deposit to generate additional greenfields targets.
In what has been a busy period, GoldArc recently announced it had identified new mineralised systems within the Leonora South gold project with a successful maiden RC drilling program at the WA discovery.
The program hit high-grade, near-surface gold mineralisation at the Woodpecker, Whistler and Niagara West prospects.
GA8 is steady at 6.7c today. Mkt cap $38.35M.
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