ACDC Metals has applied for the development of a gold project in Victoria as it progresses its Goschen Central rare earths and minerals sands project.
ACDC Metals applied for a licence for the White Hills gold project, which is located approximately four kilometres west of Whroo in central Victoria.
The project has an abundance of historical workings, and the recent drilling results supported its gold prospects.
The company found that the highly prospective ground was relinquished and started the application process, which has now progressed to the final stages of the regulatory process and will likely be granted in the near term.
ACDC Metals said the move into gold complements its existing Victorian experience and provides a low-cost entry into a new project, as well as adding to its current portfolio.
In addition, the company continues to work on its Goschen rare earth elements projects.
Following the completion of a bulk sampling program, the company is now planning the next stage of hydrometallurgical work at the Australian Nuclear Science and Technology Organisation (ANSTO) to deliver a mixed rare earth carbonate.
ACDC Metals CEO Tom Davidson said: “It is also pleasing to share staking of the White Hills gold project and give an update on progress, as we look to diversify our commodity exposure for shareholders.
“We will continue to look for opportunities that align with our strategy and can bring value to our portfolio.”
The company highlighted the potential value of its Goschen Central project given the global factors influencing supply and refining within the rare earth element sector.
The importance of resource security has placed the project on the global stage, as it is located in a stable jurisdiction that enables the development and execution of mining projects.
The Goschen Central project also delivers dual commodity streams of rare earths and heavy mineral concentrates, including zircon and titania.
A scoping study found that the project has the potential to produce approximately 6,600 tonnes of rare earth mineral concentrate over a 14-year mine life, containing strategically important rare earth elements including neodymium, praseodymium, dysprosium and terbium.
