Emerging Australian gold producer and developer Regis Resources announced the acquisition of the Blayney Gold Project, which hosts quoted Mineral Resources Estimates at two gold deposits.
The transaction, subject to satisfaction of several conditions precedent, will see Regis pay $3.25 million in cash to vendor Aeris Resources within the next 60 days.
Located in the Central Tablelands of NSW, some 8km from the company’s McPhillamys Gold Project, the Blayney Gold Project is reported to host Mineral Resources at two gold deposits. Discovery Range has an Indicated and Inferred MRE of 13.84Mt at 1.1g/t Au for 501,000 ounces and Bald Hill has an Inferred MRE of 37.0Mt at 0.5g/t Au for 595,000 ounces.
Commenting on the acquisition, Regis Executive Chairman Mark Clark said:
“We are really pleased to expand the tenure and resources of the McPhillamys project as we push it towards feasibility study,” he noted.
“The Discovery Ridge deposit has the potential to add on the size and economics of the project and will be included in our studies as we move McPhillamys forward.”