Duketon Secures Option for Boodanoo Gold Project with 2km Historic Anomaly
Duketon Mining has secured an option to acquire the Boodanoo Gold Project in Western Australia, featuring a significant historic gold soil anomaly that remains untested by drilling. The company plans to advance exploration rapidly over the next year.
- Option agreement to acquire 100% of Boodanoo Gold Project
- Historic 2km gold soil anomaly identified with peak 66.1ppb gold
- No prior drilling conducted on the anomaly
- Initial exploration to focus on surface sampling, mapping, and potential drilling
- Acquisition involves $7,500 option fee and 500,000 shares issuance
Strategic Acquisition in a Prospective Gold Region
Duketon Mining Limited has taken a decisive step to expand its exploration footprint by signing an option agreement to acquire 100% of the Boodanoo Gold Project, located approximately 80 kilometres south-south-east of Mount Magnet in Western Australia. This project sits within a highly prospective geological setting, with access facilitated by major highways and station tracks, making it logistically favourable for exploration activities.
Historic Anomaly Offers Untapped Potential
The Boodanoo Project is distinguished by a historic soil sampling program conducted in 2021, which delineated a 2-kilometre-long gold anomaly with peak values reaching 66.1 parts per billion. Notably, this anomaly has never been tested by drilling, presenting a compelling opportunity for Duketon to explore a potentially significant gold system from the ground up.
Exploration Plans and Terms of Acquisition
Under the terms of the option agreement with Western Yilgarn NL, Duketon has secured exclusive rights for 12 months to evaluate the project by paying a modest non-refundable fee of $7,500. Should the company choose to exercise the option, it will acquire the project by issuing 500,000 fully paid ordinary shares to Western Yilgarn NL. Duketon’s immediate plans include detailed geochemical sampling, rock chip collection, and geological mapping aimed at refining targets for a future drilling campaign.
Geological Context and Historical Exploration
The project lies on a granted exploration licence within the southwestern margin of the Windimurra layered mafic-ultramafic intrusive complex. While the region has a history of exploration focused on nickel, copper, and platinum group elements, gold exploration has been limited. The recent acquisition thus represents a strategic diversification into gold within an underexplored corridor, leveraging the historic data compiled by previous operators such as Seremin Pty Ltd.
Looking Ahead
Duketon’s Managing Director, Stuart Fogarty, highlighted the alignment of this acquisition with the company’s strategy to secure low-cost, high-potential projects that can be rapidly advanced. The coming months will be critical as the company undertakes surface exploration to validate the anomaly and prepare for drilling, which could unlock significant value for shareholders if the gold system proves robust.
Bottom Line?
Duketon’s move into Boodanoo sets the stage for a potentially transformative exploration campaign in a historically overlooked gold corridor.
Questions in the middle?
- Will initial drilling confirm the extent and grade of the historic gold anomaly?
- How will the issuance of 500,000 shares impact Duketon’s capital structure and shareholder value?
- Could further exploration reveal additional mineralisation beyond the known anomaly?
