Explorer WIN Metals (ASX:WIN) has this week expanded its flagship Radio Gold Project in Western Australia, acquiring the high-grade Princess Royal mine for $500,000 cash from Jalmah Investments and securing an $80K (scrip) option on Stumpy Doodle, which lies just 10 kilometres beyond the Radio site.
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Disclaimer: This article’s content has been prepared as part of a partnership with WIN Metals Ltd and is intended for informational purposes only.
Princess Royal is the cornerstone of the Week 14 acquisitions, with the WA mine lying some 80 kilometres southwest of Radio and just five kilometres from Edna May. Princess Royal already has all necessary permitting in place.
The Stumpy Doodle option, meanwhile, has a 12-month expiry date; WIN will have to decide whether it wants to activate the $20K pick-up by March CY27.
Historical data shows exactly why WIN Metals pounced on both gold projects as soon as possible: Princess Royal produced as much as 13,900 ounces gold at 21 grams per tonne between 1921 and 1935, while work at Stumpy Doodle picked up 830oz at 11/gt Au throughout the Second World War.
WIN has teed up an exploration target at 26K to 40K tonnes at eight to 12 grams per tonne at Princess Royal (representing ~7K–15K ounces gold). Notable past drilling already returned 2m @ 31.47g/t Au and 2m @ 30.47g/t Au.
“Securing Princess Royal and the Stumpy Doodle option is an important step in advancing our strategy to expand and strengthen Radio,” WIN managing director and CEO Steve Norregaard said on Tuesday.
“In line with our regional approach, these assets provide additional high-grade, stranded opportunities that materially increase the potential of the broader area.
“These transactions increase our development optionality by introducing multiple potential high-margin sources of ore, while the granted mining leases support a more streamlined pathway as we continue to advance Radio.”
WIN now plans to start RC drilling at Princess Royal as soon as possible, with results expected to come back Q3 CY26. Any major standouts there will immediately be folded into a maiden JORC resource estimate.
At the same time, the company will advance exploration and targeting at Stumpy Doodle to evaluate its potential as “a highly prospective satellite position.”
Both the immediate Princess Royal buy and the possible Stumpy Doodle acquisition should bump up WIN’s estimate around Radio. The 100%-owned project currently holds an MRE of 345K tonnes at 3.7g/t Au for 41K ounces.
Heading into Wednesday, WIN shares are 2.5c each.
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