Duketon Mining (DKM) has signed an option agreement with Western Yilgarn to acquire the Boodanoo Gold Project, located 80km south-south-east of Mount Magnet, Western Australia (WA).
The deal provides DKM with the right to purchase 100% of the project, known as E 59/2881, for a non-refundable payment of A$7,500 ($4,949), within a 12-month exclusive option period.
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The company may exercise its option within this period by issuing 500,000 fully paid ordinary shares to Western Yilgarn.
During the exclusive option period, DKM plans to undertake exploration activities to assess the mineralisation and potential of the Boodanoo project.
Accessible via the Great Northern Highway and local roads, the project includes a 2km gold anomaly identified in 2021 through soil sampling.
DKM aims to conduct detailed surface sampling and geological mapping to further explore this anomaly.
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By GlobalDataDuketon managing director Stuart Fogarty said: “We are excited to announce the option to acquire the Boodanoo Gold Project, which will further enhance our exploration portfolio in a highly prospective region of Western Australia.
“The soil sampling results outline a sizeable anomaly that has never been drill tested. The Boodanoo project further builds out our gold exploration portfolio in Western Australia and creates further optionality to our shareholders.
“This is aligned with our strategy of acquiring low-entry cost projects that can be rapidly advanced through the exploration process.”
The Boodanoo site is located on the western margin of the Windimurra layered maficultramafic intrusive complex.
Its central area features Archean metagabbro and meta-monzogranite, with several regional north-north-east-trending faults.
In April this year, DKM was granted a new tenement, E77/3160, at its fully owned Barlee project in the Southern Cross region of WA.
The Barlee project is located around 200km north of Southern Cross in a region with several small gold deposits, including the Mt Dimer and Marda Gold projects, and the Penny Mine.
