Hastings builds big footprint with WA goldfields | Australian Markets

Hastings Technology Metals has acquired a 75 per cent three way partnership curiosity within the Whiteheads gold project, in Western Australia’s Eastern Goldfields area, after finalising its acquisition of copper, gold and base metals explorer Great Western Gold.

The deal, introduced in May, additionally grants Hastings full possession of extra non-joint enterprise tenements. The company can now consolidate a 380 sq. kilometre footprint throughout 14 licences, together with 12 exploration licences, one prospecting licence and one mining lease, in an space 80 kilometres northeast of Kalgoorlie.

The acquisition concerned a $370,000 money fee and the problem of 3 million totally paid atypical Hastings shares to Great Western shareholders and the tenement distributors. A deferred consideration of up to $800,000 in shares, tied to Hastings attaining JORC-compliant milestones, is subject to shareholder approval.

Hastings waived an initial situation for shareholder approval to expedite the deal, leveraging adequate placement capability underneath ASX itemizing guidelines.

The Whiteheads gold project provides Hastings a low-cost entry to a well-understood gold exploration alternative with important upside potential. The superior nature of the project permits us to right away transfer ahead with exploration and useful resource definition, leveraging in depth historic knowledge throughout a number of beforehand recognized drill targets.

Strategically positioned close to present infrastructure, working mines and gold processing services, Whiteheads is an superior exploration project backed by more than 10,000m of historic drill knowledge, soil sampling and geophysical surveys.

The knowledge highlights a number of walk-up drill targets and untested gold and geophysical anomalies, enabling Hastings to fast-track its exploration agenda.

The company has began a systematic program, focusing on a maiden JORC-compliant useful resource by the final quarter of the 12 months.

Confirmatory drilling on the high-priority Seven Leaders goal is slated for September, then Hastings plans to discover different prospects, akin to Lady Betty and Blue Poles.

The Whiteheads project enhances Hastings’ present portfolio, together with the Yangibana uncommon earths and niobium project, with its high-grade neodymium-praseodymium deposits, and tenement functions within the Halls Creek gold area.

A latest heritage settlement with the Kakarra people within the Murchison, Coolgardie and Great Victoria Desert areas helps Hastings’ accountable project development.

With Whiteheads’ strategic location and sturdy exploration knowledge, Hastings is well-positioned to unlock important gold potential within the coronary heart of the Goldfields.

As drilling commences and a JORC useful resource takes form, the company seems set to cement its multi-commodity imaginative and prescient.

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