Redcastle Resources has significantly expanded its exploration footprint in Western Australia’s Leonora–Laverton goldfields through the acquisition of the TBone Belt tenements, adding multiple promising near-surface targets adjacent to its existing projects.
- Acquisition adds ~7,173 hectares, increasing total holdings to ~8,450 hectares
- Targets lie adjacent to Queen Alexandra and Redcastle Reef deposits
- Exploration funded by recent $4 million placement including $1.5 million from JV partner BML Ventures
- Historical workings and geophysical data highlight structurally controlled gold targets
- Planned reconnaissance drilling and environmental surveys to commence soon
Strategic Expansion in a Prolific Gold District
Redcastle Resources Limited (ASX – RC1) has taken a decisive step to bolster its presence in one of Australia’s most productive gold regions by acquiring the TBone Belt tenement package. This acquisition adds approximately 7,173 hectares to Redcastle’s portfolio, swelling its consolidated exploration footprint to around 8,450 hectares in the Leonora–Laverton goldfields of Western Australia. The move represents a sixfold increase in landholding, positioning Redcastle at the heart of a district with established infrastructure and a rich history of gold production.
Promising Geological Setting and Targets
The TBone Belt tenements are strategically located directly adjacent to Redcastle’s existing Queen Alexandra (QA) and Redcastle Reef (RR) deposits. Geological reconnaissance has revealed magnetically expressed structural corridors exhibiting brittle–ductile strain, shear zones, and quartz veining, hallmarks of orogenic gold systems. Historical small-scale workings scattered across the belt, including shafts, trenches, and heap-leach pads, underscore the potential for near-surface mineralisation. Key target corridors such as Oaklands, Ian’s Reward, Leonidas, and Margaritaville have been identified based on a combination of geophysical anomalies and surface observations.
Funded Exploration and Next Steps
Redcastle’s recent $4 million capital raising, which includes a cornerstone $1.5 million investment from joint venture partner BML Ventures, provides the financial backing to advance exploration activities on the newly acquired ground. The company plans to initiate reconnaissance drilling focused on testing beneath historical workings and along structurally significant shear intersections, with priority given to the Oaklands and Leonidas trends. Complementary work programs will include heritage and environmental surveys, geophysical data acquisition and reprocessing, and high-resolution drone imagery to refine drill targets.
Building on a Clear Pathway to Production
This acquisition complements Redcastle’s recent positive scoping study for the Queen Alexandra deposit, which outlined a near-term toll-treatment pathway capable of producing approximately 13,700 ounces of gold with an estimated revenue of A$65.6 million. By expanding its landholding and target pipeline, Redcastle is enhancing its potential to discover additional resources that could feed into this development strategy. Chairman Dr Ray Shaw highlighted the value of the contiguous tenure and under-explored targets, describing the acquisition as a “first-mover pathway to systematically de-risk future gold discoveries.”
Outlook and Market Positioning
With the TBone Belt acquisition, Redcastle solidifies its position in a district renowned for its gold endowment, supported by accessible infrastructure and proximity to operating mills. The company’s methodical approach to exploration, backed by experienced technical leadership and financial support, sets the stage for a potentially transformative phase of growth. While assay results and drilling outcomes remain pending, the expanded footprint and promising geological indicators provide a compelling narrative for investors watching the Leonora–Laverton goldfields.
Bottom Line?
Redcastle’s expanded footprint and funded exploration program mark a pivotal step toward unlocking new gold discoveries in a proven district.
Questions in the middle?
- What initial assay results will reveal about the grade and extent of mineralisation in the TBone Belt?
- How quickly can Redcastle advance from reconnaissance drilling to resource definition and development?
- What impact will the TBone acquisition have on Redcastle’s overall project economics and timeline to production?