Strategic Acquisition Consolidates Primary Gold’s Footprint At Coolgardie Project
- Acquisition of outstanding central tenement consolidates Primary Gold’s landholding at its Coolgardie Project
- Similar geological and structural setting to Primary’s wholly-owned Tycho deposit
- Minimal drilling on the tenement to date on prospect known as Queenslander
- Priority targets to be assessed and included in 2018 exploration program
Primary Gold Limited has announced the acquisition of a 100% interest in Prospecting Licence 15/6071 (P15/6071) at the Coolgardie Project via its wholly owned subsidiary, MacPhersons Reward Pty Ltd. With the Acquisition of this central outstanding tenement, Primary’s contiguous landholding at Coolgardie has now increased to 3,047.05 ha of granted tenements.
The newly acquired tenement is considered prospective for gold mineralisation due to its positioning in a similar geological and structural setting to the known Tycho gold deposit which, along with MacPhersons and A-Cap, are to be the focus of mining operations at Primary’s Coolgardie Project during Q1 2018 (refer to Figure 1 and announcement dated 3 January 2018).
Commenting on the Acquisition, Primary Executive Chairman and Managing Director, Garry Mills said, “While mining ramps-up at the Coolgardie Project, Primary is also focussing on targeted exploration of its tenements with a clear objective to increase mineral inventory and mine life of the Project.
“The highly prospective acquisition of P15/6071 forms an important part of this strategy and further confirms Primary’s intent and ambition to expand our landholding around our wholly-owned Coolgardie Project.”