Accelerate Resources secures full control of Woodie Woodie North Project

• Accelerate Resources executed binding agreements to consolidate 100% ownership of its Woodie Woodie North Manganese Project in Western Australia.
• The share-only transaction eliminates all outstanding vendor milestone payments, royalties, and third-party rights across the tenement package without any cash consideration.
• The simplified ownership structure aims to streamline ongoing metallurgical studies and position the company for an initial drilling campaign scheduled for October.

Accelerate Resources (ASX:AX8) executed binding agreements to consolidate 100% ownership of its 432-square-kilometre Woodie Woodie North Manganese Project in Western Australia's East Pilbara region.

The consolidation removes all vendor milestone payments, royalties, and residual third-party rights across the project area.

"With the ownership structure being consolidated, our focus turns to the drill rig at Gingarrigan, where around 3,000m of RC drilling will test high-grade manganese at the surface for the first time," said Accelerate Resources CEO and Managing Director Luke Meter.

The transaction comprises two share-only agreements with RH Resources and Pardoo Resources, wholly owned subsidiaries of First Development Resources, to acquire 100% of exploration licences E45/5854 and E45/5088 prior to Oct. 2.

Planned operational developments include a maiden reverse circulation drill programme of approximately 3,000 metres at the Gingarrigan prospect in October.

Following the announcement, the Accelerate Resources share price was unchanged at $0.005.

The junior exploration company holds a portfolio focused on critical minerals and gold across key Western Australian mining regions.

Prior to this transaction, the company completed a high-resolution gravity survey at Woodie Woodie North and mapped multiple manganese outcrops with grades up to 58.4% manganese.