GoldArc Resources (ASX:GA8) has expanded its footprint in the Kookynie Goldfields of Western Australia, announcing the 100% acquisition of Prospecting Licence P40/1319.
The tenement, which is currently subject to conversion into Mining Lease M40/351, is positioned directly adjacent to the company’s existing Whistler and Woodpecker South prospects.
The move effectively bolsters GoldArc’s Leonora South hub, adding critical strike to a mineralised corridor that already encompasses the Sapphire, Orion, Challenge, and Eclipse prospects.
The acquisition was secured for a total purchase price of $50,000, payable via instalments over a 12-month period.
Managing Director Paul Stephen described the deal as a "disciplined, low-cost ground acquisition," noting that it secures strategic ground for minimal capital outlay while active drilling remains underway nearby.
The new acreage adjoins the company’s current 3,000-metre aircore drilling program, which recently yielded a standout high-grade result of 1 metre at 25.21 g/t Au.
By incorporating this new licence, GoldArc increases its total Leonora South tenement position to 313km2.
The company is currently awaiting further results from its ongoing RC and AC programs, with additional assays expected to be released progressively in the near term.
The expansion ensures that the ground becomes increasingly relevant as the Whistler system is further defined, allowing GoldArc to scale its exploration efforts within a proven, high-grade gold corridor without immediate financial strain.
At the time of reporting, GoldArc Resources' share price was $0.050.