GoldArc Resources Ltd has completed a strategic rebrand and capital consolidation, raising A$3.2 million to accelerate exploration at its Leonora Gold Projects, where recent drilling confirmed significant high-grade gold mineralisation and identified new priority targets.
- Successful rebranding from Asra Minerals to GoldArc Resources with new ASX code GA8
- Raised A$3.2 million via placement to fund exploration
- 5,115 metres drilled confirming high-grade gold at Eclipse, Gladstone, and Challenge prospects
- Strategic review of Leonora North identifies 15 new high-priority gold targets
- Total gold resource stands at approximately 200,000 ounces with rare earth element resources
Corporate Transformation and Capital Strengthening
GoldArc Resources Ltd, formerly known as Asra Minerals Ltd, marked a pivotal quarter ending September 30, 2025, with a comprehensive rebranding and capital restructure. The company’s new identity, trading under the ASX ticker GA8, reflects a sharpened focus on gold exploration within Western Australia’s prolific Eastern Goldfields. Alongside this, a 10-for-1 consolidation of issued capital streamlined the share structure, while a well-supported A$3.2 million placement to sophisticated and institutional investors fortified the company’s financial position to advance its exploration agenda.
Exploration Success at Leonora South
Exploration efforts concentrated on the Leonora South Gold Project, where 5,115 metres of drilling across 97 holes delivered promising results. Notably, the Eclipse Prospect yielded a standout intercept of 14 metres grading 7.49 grams per tonne gold from just 12 metres depth, confirming a shallow, high-grade system. The Challenge and Gladstone prospects also returned encouraging high-grade mineralisation, with follow-up drilling extending known gold systems. Pending assays from one-metre split samples are expected to provide further clarity on the extent and grade of these discoveries.
Strategic Review Unlocks New Opportunities at Leonora North
Complementing the drilling success, a strategic review of the Leonora North Gold Project sharpened the company’s exploration focus. The review identified 15 new high-priority gold targets, including the Hydra and Tyrannus prospects, and highlighted significant untested potential along the 12-kilometre Ursus Fault system. This reinterpretation of litho-structural data suggests substantial upside for resource growth, particularly near the existing Mt Stirling JORC resource, which currently holds an estimated 137,000 ounces of gold.
Resource Base and Rare Earth Elements
GoldArc’s combined gold mineral resource across its Leonora projects totals approximately 200,000 ounces, with grades averaging 1.82 grams per tonne. Additionally, the company holds a notable rare earth element resource, with 15 million tonnes at 490 parts per million total rare earth oxides, underscoring the diversified value of its portfolio. These resources provide a solid foundation for future exploration and potential development.
Financial Position and Outlook
Despite operating cash outflows of A$714,000 during the quarter, GoldArc closed with a healthy cash balance of A$2.39 million, supported by the recent capital raise. The company maintains a vehicle loan facility secured against assets, with manageable interest rates and maturity terms. Management affirms confidence in ongoing operations and the ability to raise further equity if necessary to sustain exploration momentum.
Bottom Line?
With high-grade gold discoveries and a refreshed strategic focus, GoldArc Resources is poised to unlock further value in the Eastern Goldfields, but upcoming assay results will be critical to confirming its growth trajectory.
Questions in the middle?
- What will the final assay results from the follow-up drilling at Eclipse and Challenge reveal about resource expansion?
- How will the newly identified high-priority targets at Leonora North translate into future drilling programs and resource upgrades?
- What are the company’s plans for advancing rare earth element resources alongside gold exploration?