Green & Gold Minerals Ltd. (GG1) has acquired the Burlington silver-copper project in north Queensland, thereby boosting its exploration pipeline and footprint in the area.
The acquisition will significantly add to GG1’s exploration pipeline by adding several historic mining areas, increasing the chance of substantial discoveries.
The Burlington project spans 88 square kilometres in the Herberton mineral field and contains several clusters of historic mines.
The Herberton mineral field has a high prospectivity for metals used in AI and electrification infrastructure: silver, copper, tin and indium.
The Burlington project is considered underexplored, with many historic mines and occurrences within the tenure under small mining leases for much of the last century, which hindered systematic mineral exploration.
“We will look to follow the success of others seeking to define large tonnages of mineralisation in this well-endowed mineral field,” said GG1 managing director Quentin Hill.
“The tenure contains many underexplored or undrilled historic mining centres, each with potential for a significant deposit.”
GG1 has already identified several initial high-priority exploration targets across the Burlington tenure.
The Siberia-Mt Gossan prospect is a five-kilometre long and near-continuous line of copper-silver-tin mineralisation hosted in metasediments.
The Copper Hills prospect was the largest historic copper producer in the Emuford area and was mined from the late 1800s to 1937 with workings identified over 500 metres.
Meanwhile, the Elizabeth Bluffs prospect is a four-kilometre-long chert horizon and hosts the historical Elizabeth mine.
GG1 is proposing to acquire 100 per cent of the shares of Burlington Mining Pty Ltd. for a consideration of 2,250,000 GG1 shares, equivalent to AU$450,000 at 20 cents per share.
The transaction, while subject to shareholder approval, is expected to take place in mid-March.
The Burlington acquisition gives GG1 a dual focus growth strategy. The company is advancing its Chillagoe gold project and developing its 32,000-ounce gold resource at Mt Wandoo.
“The company has a two-prong growth strategy, near term development of Mt Wandoo to generate cash flow and transformational exploration success from our exploration portfolio,” Hill said.
“This acquisition provides a really exciting boost to our chances of exploration success in sought after commodities. We are excited about getting boots on the ground in the near future.”
The company is working on a resource update, mining study, and assessment of milling options for Chillagoe, expected to be released in the first half of 2026.
Further extensional drilling at the project is scheduled to start in late April or May.