G50 Secures Full Ownership of Golconda Project Amid Major Discoveries
G50 Corp has completed the acquisition of 100% ownership of its Golconda Project in Arizona, following significant exploration successes that position the company for accelerated development and commercialisation.
- Acquisition of 9 patented and 45 unpatented mining claims completed
- US$1 million cash consideration with vendor retaining 2% NSR royalty
- Recent discoveries include large gallium and precious metals deposits
- Multi-month drilling and metallurgical testing programs underway
- Civil construction progressing ahead of drilling scheduled into 2026
Full Ownership Secured
G50 Corp Limited has officially exercised its option to acquire full ownership of the Golconda Project in Arizona, marking a pivotal moment in the company’s strategic development. The acquisition encompasses nine patented and 45 previously leased unpatented mining claims, secured for a cash consideration of US$1 million. While the vendor retains a 2% net smelter return royalty, G50 holds a right of first offer over this royalty, preserving future negotiation leverage.
Exploration Success Drives Momentum
This move to full ownership follows a series of encouraging exploration results, including a substantial gallium discovery alongside a district-scale precious metals find. These breakthroughs have intensified activity at Golconda throughout 2025, underpinning G50’s confidence in the project’s potential as a strategic domestic supply source for the US market. The company’s recent divestment of non-core assets further signals a sharpened focus on Golconda and its White Caps project in Nevada.
Advancing Towards Commercialisation
G50 is now embarking on an extensive drilling campaign, combining diamond core and reverse circulation techniques, designed to extend known high-grade zones and explore lateral and depth extensions. Civil works, including road and pad construction, commenced in September to support the imminent arrival of drilling rigs. The initial drilling targets include extensions to previously reported high-grade intercepts, such as 47.2 meters at 2.00 grams per tonne gold and 40.2 grams per tonne silver, highlighting the project’s promising mineralisation.
Looking Ahead
Drilling is expected to continue well into 2026, with an RC rig scheduled to arrive in mid-January to further delineate the discovery’s strike and lateral extents. Concurrent metallurgical test work aims to refine processing pathways, critical steps on the path to commercial viability. G50’s strategic acquisition and focused exploration efforts position the company to unlock value from Golconda’s rich mineral endowment, with implications for both shareholders and the broader strategic metals market.
Bottom Line?
G50’s full ownership of Golconda sets the stage for a critical phase of exploration and potential commercialisation, with drilling results poised to shape its future trajectory.
Questions in the middle?
- How will the 2% NSR royalty impact G50’s long-term project economics?
- What are the timelines and expectations for resource definition and feasibility studies?
- How significant is the gallium discovery in the context of US strategic metal supply chains?
