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- Walkabout Resources (WKT) has finalised its purchase of the remaining 25 per cent ownership of JDH Exploration
- JDH is a privately-held mineral exploration company based in the United Kingdom
- JDH Exploration holds two Mines Royal Options with the Crown Estate Scotland covering 500 square kilometres
- Walkabout Resources will now have 100 per cent ownership over 750 square kilometres of highly-prospective exploration licences in southwest Scotland
- Walkabout Resources last traded at 24 cents on January 4
Walkabout Resources (WKT) announced the company has finalised its purchase of the remaining 25 per cent ownership of JDH Exploration for £100,000 (A$187,000).
JDH is a privately-held mineral exploration company based in the United Kingdom. Its goal is to engage in exploration for mineral occurrences in limited areas.
JDH Exploration holds two Mines Royal Options with the Crown Estate Scotland covering 500 square kilometres in Dumfries and Galloway, south-western Scotland.
The areas are known for their historic mining (lead-zinc-silver) but have not undergone any modern systematic mineral exploration since a regional program was conducted by the British Geological Survey in the 1980s when several anomalies were identified in addition to the numerous old mines and historical mineral shows in the region.
Once the transaction closes, the addition of the two JDH Exploration licences will give Australia-based Walkabout Resources a 100 per cent ownership stake in over 750 square kilometres of highly-prospective exploration licences in southwest Scotland.
A review of historic data and reconnaissance exploration by WKT has identified several prospective areas for both precious and base metals, including two drill-ready projects.
JDH Exploration will not retain any rights over the licence areas, with no further milestone payments.
“The relatively early buy-out of the remaining 25% of JDH Exploration supports the Company’s view on the mineral prospectivity of the region. Complete ownership will give
the Company much more flexibility and leverage to execute its strategy in the region,” said Walkabout Resources CEO, Andrew Cunningham.
The company expects to receive results from regional project-specific soil sampling programs early this year.
Walkabout Resources last traded at 24 cents on January 4.
