Accent Resources NL reports significant progress on its Magnetite Range Project with corrected geophysical data and ongoing metallurgical testing, while also moving forward with mining lease consolidation at its Norseman Gold Project.
- Validated geophysical downhole logging for 18 diamond drill holes at Magnetite Range
- Ongoing metallurgical test work and environmental survey planning underway
- New mining lease application submitted to consolidate Norseman Gold Project tenements
- Cash position strong at $14 million with $1.1 million spent on exploration
- Several new tenement applications granted or pending in Western Australia
Magnetite Range Project: Data Validation and Test Work Progress
Accent Resources NL has made notable strides in its flagship Magnetite Range Project during the March 2025 quarter. The company completed a thorough validation of geophysical downhole logging data from 18 geometallurgical diamond drill holes drilled in Q2 2024. This process uncovered and corrected processing errors in the initial dataset, aligning the geophysical logs with expected geological interpretations and strengthening confidence in the resource model.
Alongside data validation, Accent Resources continued extensive metallurgical test work at Bureau Veritas laboratories, progressing through phase one assays and nearing completion of density test results. Phase two composite sample selection is underway, setting the stage for further metallurgical insights critical to project development.
Environmental and heritage surveys are being carefully planned to support access for the 2025 reverse circulation percussion (RCP) drilling program. These surveys are essential to meet regulatory requirements and community expectations, with fieldwork scheduled for the next quarter. The company is also digitizing historical exploration data from the DEMIRS WAMEX database, enhancing its geological understanding and exploration targeting.
Norseman Gold Project: Tenement Consolidation and Lease Applications
On the gold front, Accent Resources is advancing its Norseman Gold Project by submitting a new mining lease application aimed at consolidating multiple tenements into a single lease. This strategic move is designed to streamline project management and align with conceptual mining plans, potentially accelerating development timelines. The mining lease application, submitted in July 2024, remains pending grant, while a new prospecting lease was granted in March 2025.
The Norseman project hosts a JORC 2004-compliant gold resource of approximately 59,500 ounces, predominantly near surface, which could offer near-term mining opportunities if exploration and permitting proceed smoothly.
Financial Position and Corporate Outlook
Accent Resources reported a robust cash balance of $14 million at quarter-end, supporting ongoing exploration activities and corporate initiatives. Exploration expenditure for the quarter was $1.1 million, reflecting active investment in advancing both iron and gold projects. The company continues to collaborate closely with major shareholders Rich Mark Development Group and Xingang Resources (HK) Limited to evaluate further acquisition and development opportunities.
Several new exploration tenements were applied for and granted during the quarter, expanding the company’s footprint in Western Australia’s mineral-rich Mid-West and Norseman regions. These moves underscore Accent Resources’ commitment to growing its resource base and positioning for future development.
Looking Ahead
Upcoming work will focus on completing heritage and environmental surveys to enable planned drilling programs, advancing metallurgical test work, and continuing strategic studies including hydrogeological and geotechnical assessments. The company’s methodical approach to data validation and regulatory compliance bodes well for reducing project risk and enhancing resource confidence.
While the Norseman mining lease consolidation remains pending, its approval could be a catalyst for unlocking value in the gold project. Meanwhile, the Magnetite Range Project’s corrected geophysical data and ongoing test work lay a solid foundation for future resource development and potential feasibility studies.
Bottom Line?
Accent Resources is methodically advancing its iron and gold assets, with upcoming survey results and lease approvals poised to shape its next growth phase.
Questions in the middle?
- When will the Norseman mining lease application be granted, and what impact will it have on project timelines?
- How will the results of the pending metallurgical test work influence the Magnetite Range Project’s development strategy?
- What are the potential implications of environmental and heritage survey outcomes on the planned 2025 drilling programs?