GoldArc Resources Ltd. has secured 100 per cent ownership of the Mt Stirling deposit and mobilised a diamond drilling campaign to support the impending mining operation at the company’s Leonora North gold project in Western Australia.
GoldArc acquired the remaining 10 per cent interest in Mt Stirling from its joint venture partners, who have decided to convert their interest holding into a 2 per cent gross smelter royalty and a AU$200,000 payment.
The consolidation is a strategic milestone and grants GoldArc complete ownership of the project. It also simplifies the ownership structure ahead of the proposed mining operations under the BML Ventures partnership.
GoldArc Managing Director Paul Stephen said: “This is the final step in securing 100 per cent interest ownership of Mt Stirling, Stirling Well and Mt Cutmore tenement package representing 22.3 square kilometres immediately north of The King of the Hills mine.
“Q1 2026 is shaping up to be a transformational period for the company, with mining partnerships and our own exploration efforts running in parallel.”
The simplified ownership structure aligns with GoldArc’s profit-sharing mining agreement with BML Ventures, allowing GoldArc to begin drawing on a AU$2.5 million cash advance facility to accelerate its discovery-focused strategy and provide immediate working capital.
GoldArc has commenced a diamond hole drill program at the Mt Stirling and Stirling Well deposits, which comprises four holes for a total of approximately 315 metres.
The drill program will obtain core samples to test the mineralised zone tor data to finalise the mining implementation plan.
The program is expected to take 10 to 14 days to complete and will utilise GoldArc’s existing Tarmoola camp infrastructure for logistics and crew accommodation.