Pantera Minerals Ltd. has agreed to acquire a 100 per cent interest in the Corona gold project, securing a 470-square-kilometre prospective ground position in Western Australia’s Albany Fraser Orogen.
Pantera secured the granted exploration licences for a total consideration of AU$200,000, comprising AU$40,000 in cash and AU$160,000 in Pantera shares, alongside a 2 per cent gross revenue royalty with buy-back rights.
Located approximately 200 kilometres east of Kalgoorlie, the Corona project lies along the same structural corridor hosting the Tier-1 Tropicana gold mine and sits 10 to 25 kilometres along strike from BPM Minerals’ recent Beachcomber gold discovery.
Pantera Executive Chairman and CEO Barnaby Egerton-Warburton described the deal as an opportunistic, low-cost transaction that provides immediate drill targets without diverting capital from the company’s core US critical minerals strategy.
“While our primary focus is the U.S. when a project like Corona becomes available that is cheap, with real targets already defined and a clear path to drilling – we will take it,” the CEO said.
“We will keep doing deals like this whenever the entry cost is low and the upside is obvious.”
The Corona project encompasses an eight-kilometre-long continuous gold-in-bedrock anomaly identified in historical aircore drilling, with prior intercepts including six metres at 1.5 grams per tonne gold from 66 metres. Despite the footprint, only one reverse circulation (RC) hole has previously been drilled in the immediate prospect area.
Additionally, historical wider-spaced auger sampling across the western tenure returned untested high-tenor gold anomalies peaking at 128 parts per billion, a signature higher than the surface anomaly that led to the nearby Beachcomber discovery.
Pantera plans to commence engagement with the Upurli Upurli Nguratja native title holders to establish heritage and access agreements.
The company’s initial exploration program will focus on compiling historical data, executing close-spaced ultra-fine fraction soil sampling across priority targets, and progressing higher-ranked anomalies toward aircore and RC drilling.
The acquisition is subject to standard due diligence and regulatory approvals, with completion expected in October.
