THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) continued to build its domestic portfolio with the acquisition of 100 per cent-ownership of the Barton gold project, a single Exploration Licence Application (ELA 40/393) in Western Australia from local company 30 Well Pty Ltd.
The Barton project is located near the historical gold mining town of Kookynie approximately 200 kilometres north of Kalgoorlie and 40km south of Leonora in the Eastern Goldfields.
The project covers just over 200 square kilometres of the Kookynie Gold District and adjoins several growing gold deposits / projects, including: Genesis Minerals’ Ulysses and Kookynie gold projects; Metalicity’s recent high-grade Kookynie gold discoveries; and Saturn Minerals’ Apollo Hill gold project.
“The Barton project is ideally situated within the Kookynie Gold District which is fast developing a reputation as a very exciting exploration and mine development area,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.
“This purchase adds to Azure’s growing portfolio of Western Australian projects which commenced with the recent acquisition of four gold and nickel projects from Mark Creasy and the Creasy Group.
“Building a portfolio of Western Australian projects has reduced Azure’s risk profile by diversifying across commodities and jurisdictions.
“This strategy has now given shareholders exposure to two of WA’s most exciting gold exploration areas – the Mallina district in the Pilbara and the reborn Kookynie district – as well as taking on Creasy’s nickel-copper discovery in the Andover layered mafic-ultramafic complex.
“Given recent exploration successes in the Kookynie district by other companies, Azure is confident that comprehensive and targeted exploration on the largely unexplored 200 square kilometres Barton landholding has good potential for the discovery of significant gold mineralisation.
“Meanwhile, we’re not neglecting our Mexican assets with target identification and drill planning finalised for the Alacrán silver-gold-copper project and drilling is expected in Q4 2020.”