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Dundas Minerals secures exploration licence for 270km2
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Dundas Minerals secures exploration licence for 270km2

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  • Dundas Minerals secured exploration licence E38/4002 covering approximately 270km2 in the Mount Margaret Mineral Field.
  • The share price of Dundas Minerals was unchanged following the announcement.
  • The grant fully encompasses the five-kilometre Bloodwood priority gold anomaly at the company's Romano Project.

Dundas Minerals (ASX:DUN) has secured exploration licence E38/4002 covering approximately 270km2 in Western Australia's Mount Margaret Mineral Field.

The newly granted tenure covers the entire five-kilometre Bloodwood gold anomaly, which represents the primary gold target at the Romano Project.

Historical air core drilling returned 12m at 3.31 grammes per tonne of gold from 20m, including 4m at 9.53 grammes per tonne of gold.

Managing Director Jonathan Downes stated, "The drilling that defined Bloodwood was shallow air core on wide spacing, and the one diamond hole that went beneath it identified gold in fresh rock. The next holes at Bloodwood are extensions to a known system rather than first-pass exploration, and this makes this such an exciting prospect."

The Bloodwood target sits on the Yamarna Shear Zone corridor roughly 20 kilometres north of the Golden Highway gold deposits.

Following the announcement, the Dundas Minerals share price was unchanged at $0.045.

The exploration licence sits approximately 35km northwest of the 6.05-million-ounce Gruyere gold mine.

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