Bulletin Resources has significantly expanded its Lake Rebecca Gold Project to 1,100 square kilometres through a strategic acquisition, while facing regulatory challenges at its Ravensthorpe Lithium Project. The company maintains a strong financial position as it prepares for upcoming exploration activities.
- Lake Rebecca Gold Project expanded to 1,100km via strategic acquisition
- Six of seven new tenements granted two-year extensions enabling exploration
- Appeal dismissed for Native Vegetation Clearing Permit at Ravensthorpe Lithium Project
- Strong balance sheet with $14.25 million in cash, investments, and receivables
- Exploration expenditure of $154,000 with on-ground work planned soon
Lake Rebecca Expansion Bolsters Gold Exploration
Bulletin Resources Limited has doubled the size of its Lake Rebecca Gold Project to 1,100 square kilometres through the acquisition of an additional 509 square kilometres of highly prospective gold tenements. Situated in the southern Laverton Tectonic Zone, the project lies close to major gold operations such as Northern Star Resources’ Carosue Dam and Ramelius Resources’ Rebecca and Roe gold projects, positioning Bulletin in a promising corridor for gold mineralisation.
During the June quarter, six of the seven newly acquired tenements received extensions of term for an additional two years from the Western Australian Department of Mines, Petroleum and Exploration. This tenure security is critical for Bulletin to advance exploration activities with confidence. The seventh tenement’s extension remains pending but is expected to be granted shortly.
Target Generation and Exploration Plans
Bulletin has identified three established gold mineralised trends within the Lake Rebecca project area, each associated with known gold anomalies and historical drilling results. These trends include the western corridor near the KKSZ system, the central Laverton/Pinjin and Celia Fault systems, and the eastern structural corridor extending into the Rebecca gold system. The company is progressing target generation work and plans to commence on-ground exploration activities imminently, aiming to build on the promising geological framework.
Ravensthorpe Lithium Project Faces Regulatory Hurdle
In contrast to the positive developments at Lake Rebecca, Bulletin’s Ravensthorpe Lithium Project encountered a setback when the Minister of Environment dismissed the company’s appeal against the Department of Mines’ refusal to grant a Native Vegetation Clearing Permit. The project, located near Rio Tinto’s Mt Cattlin lithium mine, hosts high-grade spodumene pegmatites but now faces delays as Bulletin reviews the decision and considers its next steps.
Financial Position and Corporate Outlook
Financially, Bulletin Resources remains well-capitalised with $14.25 million in cash, investments, and receivables at quarter-end. Exploration expenditure was modest at $154,000, reflecting early-stage activities, while proceeds from the sale of listed investments contributed $1.184 million in cash inflows. The company continues to review both existing tenements and new opportunities, maintaining a cautious but optimistic stance as it navigates regulatory challenges and prepares for expanded exploration.
Bottom Line?
Bulletin’s expanded gold footprint and solid finances set the stage for a pivotal exploration phase, even as lithium project hurdles loom.
Questions in the middle?
- Will the pending tenement extension at Lake Rebecca be granted without conditions?
- How will Bulletin respond strategically to the Native Vegetation Clearing Permit refusal at Ravensthorpe?
- What are the timelines and budgets for upcoming on-ground exploration activities?