NewPeak Acquires Historic Tansey Gold Project for A$250,000 in Shares and Cash

• Acquisition of Goldstrike Mining Pty Ltd for A$200,000 in shares plus A$50,000 cash
• Tansey Project includes historic South Burnett Mine with high-grade gold and silver production
• NewPeak holds adjoining tenement applications expanding project footprint
• Plans for induced polarisation surveys and drilling to target mineralisation extensions
• Acquisition complements NewPeak’s growing focus on Argentinian gold assets

Strategic Acquisition in Queensland

NewPeak Metals Limited has taken a significant step in expanding its Australian gold portfolio by agreeing to acquire Goldstrike Mining Pty Ltd, the sole owner of the Tansey Gold Project (EPM26368), located approximately 190 kilometres northwest of Brisbane. The deal, valued at A$250,000, comprising A$200,000 in NewPeak shares and A$50,000 in cash, is contingent on a modest capital raise, which the company retains the option to waive.

This acquisition brings under NewPeak’s control a district-scale gold project with a rich history of high-grade production, notably from the South Burnett Mine, which historically yielded ore grading 12.7 grams per tonne gold and 11.5 grams per tonne silver. Despite the promising grades, exploration activity has been sparse since the 1960s, leaving considerable upside potential for modern exploration methods.

Unlocking Historic Potential with Modern Techniques

The Tansey Project area is geologically promising, situated within the Esk Basin and featuring volcanic and sedimentary formations known to host epithermal gold mineralisation. NewPeak plans to deploy induced polarisation (IP) surveys, a geophysical technique not previously applied here, to refine drill targets beneath and around the historic mine workings. Past drilling by the Queensland Department of Mines revealed encouraging gold and silver intercepts below the old shafts, but these results remain non-JORC compliant and require modern validation.

Complementing the acquisition, NewPeak has lodged two adjoining tenement applications, “Tanjan” and “Grongah,” which together with EPM26368 create a contiguous landholding with multiple historic small-scale mines and numerous mineral occurrences. This expanded footprint enhances the company’s ability to explore for Gympie-style gold mineralisation, a style known for its economic significance in Queensland.

Balancing Local and International Ambitions

While the Tansey acquisition marks a renewed focus on Australian assets, NewPeak’s Managing Director, Mark Purcell, emphasised that this project will complement the company’s intensified efforts in Argentina, where recent gold price strength and a more favourable investment climate offer attractive opportunities. The company is also awaiting assay results from surface sampling at its Treuer Range uranium/vanadium project, signaling a diversified exploration strategy.

NewPeak’s approach combines low-cost, targeted exploration with strategic acquisitions, aiming to unlock value across multiple commodities and jurisdictions. The Tansey Project’s proximity to infrastructure and highways further supports efficient exploration and potential development.

Looking Ahead

With the acquisition now executed, NewPeak is poised to initiate IP surveys and drilling programs in the near term, seeking to validate and expand on the historic mineralisation. The company’s ability to convert historical data into JORC-compliant resources will be critical in defining the project’s commercial potential and attracting further investment.

Bottom Line?

NewPeak’s Tansey acquisition sets the stage for a new chapter in Queensland gold exploration, with early results likely to shape investor sentiment.

Questions in the middle?

• How will NewPeak’s planned IP surveys refine the understanding of mineralisation at Tansey?
• What impact will the capital raising condition have on the timing and pricing of the acquisition shares?
• Can NewPeak successfully convert historic non-JORC data into a compliant resource to attract further investment?