Recharge Metals Completes Ironstone Well Gold Project Acquisition
Key points
- Acquisition increases Prospero Gold Trend by 50% to over 15km
- Historical drilling shows high gold intercepts
- Maiden 30,000m drilling program at Sunset Well to commence
- Company remains strongly funded with approximately $5.6 million cash
Full summary
Recharge Metals Ltd has successfully completed the acquisition of the Ironstone Well Gold Project, which is adjacent to its existing Sunset Well Gold Project in Leonora, Western Australia. This acquisition increases the Prospero Gold Trend by 50% to over 15km and includes 4km of the newly identified Portia Gold Trend. Historical drilling at Ironstone Well has revealed numerous high-grade gold intercepts, including 6m @ 3.35g/t Au from 76m. Recharge's maiden 30,000m drilling program at Sunset Well is set to commence, marking the first exploration drilling at the Prospero Deposit in nearly 30 years. The company remains well-funded with approximately $5.6 million in cash to advance its exploration activities.
Guidance
Recharge Metals has approximately $5.6 million in cash to fund exploration.
Outlook
Recharge Metals plans to commence a Heritage Survey over the new gold targets in the new year and drilling in mid-2027.
Summary generated by a large language model. Please interpret with care.