WIN Metals Ltd. has expanded its Butchers Creek gold project in Western Australia’s Kimberley region by 62 per cent, acquiring additional ground to cover its planned tailings storage facility footprint and boost regional exploration potential.
The company entered into two separate agreements to acquire tenure for a total upfront consideration of AU$115,000.
Under the first agreement, WIN’s subsidiary, Butchers Creek Metals, will purchase two granted exploration licences, E80/5607 and E80/5608, from IGO Ltd. for AU$100,000 in cash plus a 2 per cent net smelter return royalty.
Located immediately west of the Butchers Creek open pit, E80/5607 incorporates part of the historic tailings dam, allowing future capacity to be integrated into planned operations with minimal design changes.
The IGO acquisition is expected to be completed by 31 December.
Under the second agreement, WIN secured an exclusive five-year option from Metal Bank Ltd. for AU$15,000 to acquire exploration licence application E80/5248. If exercised, WIN will pay a further AU$85,000, grant a 0.75 per cent gold royalty, and pay AU$250,000 upon defining a 100,000-ounce gold resource on the tenement.
The combined acquisitions expand the project area to 343 square kilometres, adjoining Hastings Technology Metals’ Brockman Rare Earths and Niobium Project.
The new ground hosts historical gold workings, including roughly 3.4 kilometres of strike at Darcys, offering strong potential to expand Butchers Creek’s existing Mineral Resource Estimate of 5.6 million tonnes at 1.98 grams per tonne of gold for 359,000 ounces.
WIN Metals CEO Steve Norregaard said: “Securing these two parcels of tenure greatly enhance the Butchers Creek project bringing areas highly prospective for gold into the portfolio for modest consideration and dramatically simplifying the proposed Butchers Creek Mine mining footprint.
“Together, these transactions increase our development optionality by introducing additional potential sources of mineralisation for negligible cost.”
