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Broken Hill Gold doubles South Australian exploration footprint with historic goldfield tenements

Company secures two exploration licences covering Manna Hill and Waukaringa goldfields, where no modern drilling has occurred since the 1990s

By LineZotpaper
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Read Time2 min
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Broken Hill Gold has more than doubled its regional exploration footprint in South Australia to over 1500 square kilometres after winning tenders for two new exploration licences hosting the historic high-grade Manna Hill and Waukaringa goldfields, the company announced.

The new ground sits 50 kilometres from Broken Hill Gold's flagship White Dam project and covers a combined 751 square kilometres. The Manna Hill goldfield, with a seven-kilometre strike, historically produced 3400 ounces of gold at 18 grams per tonne. The nearby Waukaringa goldfield yielded 45,000 ounces at 23 grams per tonne from a five-kilometre strike dotted with historical workings.

The company said a review of historical data found that while some work occurred between the 1950s and 2015, no modern drilling has been conducted on the main goldfields since the 1990s.

'This tenure is very prospective and materially adds to our current exploration portfolio with walk-up drill targets on historic goldfields with no modern exploration,' managing director Matthew Boyes said.

The acquisition represents a strategic consolidation around its White Dam operations base, which management believes holds potential for future oxide and sulphide gold ore to feed its existing plant. Broken Hill Gold plans to begin field mapping, sampling and geophysics as soon as the licences are granted.

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Analysis

Why This Matters

  • The expansion gives Broken Hill Gold a consolidated land package with known high-grade gold occurrences, potentially de-risking its exploration pipeline.
  • If successful, the project could extend the life of the company's White Dam processing plant and create economic activity in regional South Australia.
  • The lack of modern drilling means the true potential of these historic goldfields remains unquantified, making this a high-risk, high-reward venture.

Background

Broken Hill Gold is an Australian exploration company focused on gold and copper projects in South Australia and New South Wales. Its flagship White Dam project near Olary already hosts a processing plant. The newly acquired tenements cover goldfields that were actively mined in the late 1800s but have seen little systematic modern exploration, a common pattern in Australia's historic mining districts.

Key Perspectives

Broken Hill Gold: The company sees the acquisition as a low-cost way to add walk-up drill targets with historically high grades, avoiding the need for grass-roots generative exploration. Investors and analysts: They will watch for assay results from initial drilling to confirm whether historical grades extend at depth and along strike. Local communities and regulators: Stakeholders will monitor environmental and heritage considerations as the company moves from mapping to drilling on land that may contain significant Aboriginal cultural heritage.

What to Watch

  • Timing of licence grants and commencement of field programs
  • Initial surface sampling and geophysical survey results
  • Any further consolidation of neighbouring tenements or joint venture deals

Sources

Zotpaper

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