Trigg Minerals has finalised the acquisition of a 90% stake in four new licence areas, spanning 431km² in northern Queensland, from Boadicea Resources.
The acquisition is pending final approval from the Queensland Government Department of Resources.
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In the meantime, Trigg will assume operating rights and expenditure commitments for the tenements on behalf of Boadicea Resources (BOA).
The acquisition includes the Clarke Reward and Mt Carmel licences in the Drummond Basin region, as well as the West Ravenswood licence in the Charters Towers area.
These licences, covering an area of 214km², feature anomalous magnetic characteristics indicative of significant gold exploration potential.
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The Clarke Reward and Mt Carmel licences are located at the edge of the Drummond Basin and the Anakie Metamorphics.
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By GlobalDataAdditionally, Trigg acquired a 90% interest in the newly granted Bosworth tenement, which adjoins the West Ravenswood licence.
This further consolidates Trigg’s position as a prominent player in the region’s gold exploration sector.
The Drummond Basin and Charters Towers regions are known for their high potential for epithermal and intrusive-related gold mineralisation.
Currently, Trigg’s team is assessing targets using an extensive digital database for the project.
Following a period of adverse weather that impacted access, the company can now proceed with its exploration activities in the Drummond Basin projects.
Preparatory work is under way, with Trigg evaluating drill pads and access roads to inform the scheduling of its forthcoming drilling programme.
Trigg executive chairman Timothy Morrison said: “We are pleased to have completed this acquisition, which expands our portfolio and provides more potential gold targets for exploration.
“It is our goal to advance these new projects concurrent to already planned activity, which will add valuable targets for an expanded campaign.”
