Omnia Metals and Hardy Metals Launch JV on High-Grade Gold Tenement Near Kalgoorlie

• 50/50 joint venture formed between Omnia Metals and Hardy Metals
• Exploration licence application E39/2555 at Salt Creek Project targeted
• Historical drilling shows significant high-grade gold intercepts
• Two-year exploration budget set at $150,000 with Hardy Metals as JV manager
• Salt Creek Project now covers 410 km², including the Corvette Project

Strategic JV Formation in a Proven Gold Province

Omnia Metals Group Ltd (ASX, OM1) has taken a significant step forward in its gold exploration ambitions by entering into a binding term sheet with Hardy Metals Pty Ltd to jointly explore a highly prospective tenement application, E39/2555, at the Salt Creek Project. Located northeast of Kalgoorlie within the Albany-Fraser Orogen, this JV marks a strategic collaboration aimed at unlocking the potential of a region known for its rich mineralisation.

The Salt Creek Project, now covering an expansive 410 square kilometres, includes the Corvette Project, a site with a history of gold exploration dating back to the early 1980s. The area has seen intermittent exploration by major players such as Western Mining Corporation and AngloGold Ashanti, with the latter’s joint venture leading to the discovery of the nearby Tropicana Gold Project, a world-class deposit.

Promising Historical Drilling Results

Historical drilling at the Corvette Project has revealed compelling gold intercepts, including standout results such as 3 metres at 40.3 grams per tonne (g/t) gold from 97 metres depth, and other significant intercepts exceeding 3 g/t over multiple metres. These results highlight the potential for both supergene and primary gold mineralisation hosted within structurally complex, highly deformed rocks similar in style to Tropicana.

Omnia’s executive chairman, Patrick Glovac, emphasised the value of securing this tenement at a low cost, noting the geological team’s success in identifying a ground package with strong mineralisation indicators. The JV agreement follows Omnia’s recent drilling program at Salt Creek, with assay results pending, underscoring the company’s commitment to validating and building upon historical data.

JV Terms and Exploration Outlook

The joint venture is structured as a 50/50 partnership, with Hardy Metals appointed as the manager responsible for maintaining the tenement and overseeing exploration activities. The initial two-year budget is set at $150,000, funded from Omnia’s existing cash reserves and allocated Salt Creek budget. The JV agreement includes flexible withdrawal terms for Omnia, with no dilution or royalty penalties if withdrawal occurs before the end of the second year, and a 1% net smelter royalty if withdrawal happens thereafter.

This arrangement allows both parties to share exploration risks and rewards while advancing the project’s development. The focus will be on further drilling to verify historical results, better define mineralisation geometry, and assess the potential for resource delineation.

Positioning for Future Growth

Omnia Metals’ broader strategy targets commodities essential to the global energy transition, and gold remains a key component of its portfolio diversification. The Salt Creek JV enhances Omnia’s presence in a highly prospective gold belt, positioning the company to leverage exploration success into potential resource growth and value creation.

As assay results from recent drilling become available and the JV advances, market participants will be watching closely for signs of a new gold discovery that could complement the nearby Tropicana deposit and strengthen Omnia’s exploration credentials.

Bottom Line?

With a strategic JV in place and promising historical data, Omnia Metals is poised for a pivotal exploration phase in a proven gold district.

Questions in the middle?

• What will the pending assay results from recent drilling reveal about the tenement’s gold potential?
• How will Omnia and Hardy Metals balance exploration expenditure and risk over the JV’s initial two years?
• Could further tenement acquisitions or JV expansions in the Albany-Fraser Orogen accelerate Omnia’s growth?