WIN Metals Ltd (ASX:WIN), an Australian mineral exploration company focused on gold, nickel, and lithium assets in Western Australia, has announced the acquisition of the fully permitted Princess Royal Gold Mine and an exclusive option to acquire the Stumpy Doodle Gold Mine. These acquisitions significantly expand and strengthen the company’s Radio Gold Project. The Princess Royal Gold Mine is located 80km from Radio and 5km from Edna May, while the Stumpy Doodle Gold Mine is 10km north of Radio. Both assets are situated on granted Mining Leases, facilitating a streamlined path to potential development.
The acquisitions bring exceptional historical grades and production to the Radio Gold Project. The Princess Royal Exploration Target is estimated at 26,000 – 40,000 tonnes at 8.0 – 12.0g/t Au, containing 7,000 – 15,000 ounces of gold. High-grade intercepts from Princess Royal include 2m @ 31.47g/t Au, 2m @ 30.47g/t Au, and 7.5m @ 2.37 g/t Au. Immediate work programs are planned to advance the broader Radio project area, with drill planning underway at Princess Royal and exploration to commence at Stumpy Doodle during the option period.
According to Managing Director and CEO Steve Norregaard, securing Princess Royal and the Stumpy Doodle option is a crucial step in expanding and strengthening the Radio Gold Project. These assets provide additional high-grade opportunities that materially increase the scale and potential of the project area. The transactions increase development optionality by introducing multiple potential high-margin sources of ore, while the granted mining leases support a more streamlined pathway as the Radio project advances.
The consideration for Princess Royal includes total cash payments of A$500,000 and a royalty of A$75 per ounce of gold. The Stumpy Doodle option requires a non-refundable fee of A$20,000 and exploration activities, including drilling costs, of no less than A$50,000 during the option period. If the option is exercised, WIN will issue shares to the vendor valued at A$80,000 or 1,500,000 shares, whichever is greater.
