Xenora Minerals makes strategic highly prospective WA gold-copper corridor move

• Enters into binding agreements to acquire projects southeast of Meekatharra
• Two adjoining projects cover total of 115sqkm of fertile Barrambie greenstone belt
• Neither project subjected to modern exploration
• Errolls an under-explored gold deposit, with shallow high-grade intercepts

Xenora Minerals (ASX: XRA) has entered into binding agreements with Breakthrough Minerals (ASX:BTM) and FireFly Metals (ASX: FFM) to acquire 100% of the Errolls gold deposit and a 90% interest in the Limestone Well project in WA.

The projects are located 90km southeast of Meekatharra in the Barrammbie Greenstone Belt and have had little modern day exploration.

“These are game-changing acquisitions which mark the start of a new chapter for Xenora,” chairman, Peretz Schapir, said.

“We have secured a large highly prospective land holding right next to the recent outstanding Nanadie copper discovery.

“Our ground contains known high-grade mineralisation, including a short production history, but has never been exposed to modern exploration techniques.

“The same rocks that host Nanadie to the north and the giant Barrambie vanadium-titanium project to the south extend through Limestone Well beneath shallow, largely untested transported cover. With approximately 10km of prospective strike that has never been drill tested, directly abutting Solstice’s Nanadie [roject, Limestone Well contains significant copper-gold targets immediately south of the Nanadie deposit.”

Xenora has received binding commitments to raise $5 million from institutional, sophisticated and professional investors to fund accelerated exploration activities across the highly prospective expanded Barrambie portfolio.

“The placement will fund an aggressive exploration campaign applying the same exploration model used at Nanadie,” Mr Schapir said.

Limestone Well tenements abut directly onto the southern portion of Solsitice Minerals’ Nanadie discovery tenements, but despite this Mr Schapir said the project is under-explored for copper and gold and lays.

He said the northern half of the project is likely situated on the same favourable stratigraphy and host rocks as the Nanadie Well copper-gold deposit, located only six km along strike.

Much of the Limestone Well tenure remains largely untested due to shallow transported cover masking the underlying prospective rocks.

An exploration program comprising 10,000m of aircore drilling complemented by induced polarisation (IP) geophysical surveys is being planned to assess the prospective corridors and geophysical anomalies, targeting disseminated sulphide mineralisation concealed beneath the cover sequence.

The combination of strong geological analogues and limited historical testing provides an outstanding opportunity to identify significant concealed copper-gold mineralisation similar to Nanadie Well. The southern portion of Limestone Well is equally compelling. The mineralised trends associated with the Errolls and Doherty gold deposits extend directly into the Limestone Well tenements, yet these potential extensions or prospective mineralised horizons have never been systematically drill tested. A further 5,000m aircore drilling program is proposed for a first pass evaluation.

XRA was steady at 21.5¢. Mkt cap $13.09M.

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