Australian gold explorer Ausgold has signed a farm-in agreement with Critica concerning exploration licence E70/5077, adjacent to Ausgold's Kulin gold project in Western Australia (WA).
This agreement allows Ausgold to earn up to a 70% interest in the licence over three and a half years.
Under the farm-in terms, Ausgold can secure a 51% interest by investing A$250,000 ($161,130) within 18 months, and an additional 19% interest with a further investment of A$360,000 over the subsequent 24 months.
Once the earn-in is complete, Critica will maintain a 30% contributing interest or opt for the right to convert to a 1.5% net smelter royalty upon a decision to mine.
The licence spans approximately 106km² and is situated along the eastern margin of the Katanning Greenstone Belt.
The tenement, E70/5077, is located on the northern extension of the Yandina Thrust, known for hosting the Griffins Find and Tampia gold mines.
The area's gold prospectivity is further underscored by a coherent gold-in-soil anomaly extending over 3km of strike. Within this zone, two high-grade anomalies have been identified, each extending approximately 600m.
Ausgold executive chairman John Dorward said: “The farm-in to E70/5077 is a strategic step in expanding our regional footprint across the eastern Katanning Greenstone Belt. This new tenement complements our strong regional landholding surrounding our flagship Katanning Gold Project, which includes the Kulin Project as well as other advanced exploration prospects such as Duggan and Nanicup Bridge–Zinger.
“This agreement directly aligns with our strategy to establish a regional production hub at the Katanning Gold Project, by discovering and developing high-quality, near-surface satellite deposits that can leverage our existing infrastructure and scale.”
Ausgold plans to submit the required programme of work in the first quarter of fiscal year 2026 (Q1 FY26) and anticipates launching its maiden drilling campaign between Q2 and Q3 of FY26.
The upcoming work programme will focus on high-priority gold-in-soil and trenching anomalies to capitalise on the project's discovery potential.
In June 2024, the company secured firm commitments to garner A$38m through a placement to further the development of its Katanning gold project in WA.
