THE BOURSE WHISPERER: OZZ Resources (ASX: OZZ) has made a strategic acquisition in the form of a new tenement holding in the Leonora mining district of Western Australia.
OZZ Resources acquired two additional Exploration Licences covering an area of 63 square kilometres adjacent to the company’s recently acquired Pinnacle Well project, located 25km north of Leonora and immediately to the east of OZZ’s existing Mt Davis project.
The newly acquired area has had limited drilling since the early 2000s, despite the presence of a prospective greenstone belt and structural preparation from the district-scale Keith-Kilkenny Shear Zone.
Transported cover sitting over most of the tenement area has restricted historical exploration.
In addition to the gold potential that OZZ considers in play, the tenements lie on the same structures and lithologies as the Jaguar base metal deposits, located 25km to the north.
“Following our acquisition of the Pinnacle Well project in November, this acquisition further consolidates our land-holding in the world-class Leonora district, with the proximity of the tenements to our existing projects delivering significant synergies for our exploration efforts,” OZZ Resources managing director Jonathan Lea said in the compay’s ASX announcement.
“We are planning extensive drilling programs targeting both gold and base metal mineralisation across the Pinnacle Well consolidated ground package in 2022, with the new tenure expected to yield numerous drilling targets this year and beyond.”
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