GoldArc Resources has consolidated 100% ownership of the Mt Stirling gold deposit and activated a $2.5 million funding facility, kickstarting a diamond drilling program to advance mining plans.
- Acquisition of remaining 10% interest in Mt Stirling deposit
- Conversion of vendors’ stake into 2% gross smelter royalty with $200,000 payment
- All conditions met for BML Ventures Profit Sharing Mining Agreement
- Access to $2.5 million Profit Cash Advance Facility initiated
- Diamond drilling underway focusing on metallurgical and geotechnical testing
Full Ownership Consolidation Marks Strategic Milestone
GoldArc Resources (ASX, GA8) has taken a decisive step forward by acquiring the remaining 10% interest in the Mt Stirling deposit, securing 100% ownership of tenement M37/1306. This move simplifies the project’s ownership structure ahead of planned mining operations and converts the vendors’ former equity into a 2% gross smelter royalty, accompanied by a $200,000 payment. The consolidation underscores GoldArc’s commitment to advancing its Leonora North Gold Project with greater control and operational flexibility.
BML Ventures Partnership and Funding Facility Activated
In parallel, GoldArc has satisfied all conditions precedent for the Profit Sharing Mining Agreement with BML Ventures, unlocking access to a $2.5 million Profit Cash Advance Facility. This capital injection is earmarked to accelerate exploration and provide essential working capital without diluting shareholder value. The facility’s activation signals confidence in the project’s near-term prospects and supports GoldArc’s broader discovery-driven strategy in the Eastern Goldfields.
Drilling Program Targets Critical Mining Data
To underpin the forthcoming mining implementation plan, GoldArc has commenced a diamond drilling campaign at Mt Stirling and the nearby Stirling Well deposit. The program, comprising four holes over approximately 315 meters, aims to collect core samples for metallurgical and geotechnical testing. Metallurgical analysis will clarify ore composition and processing characteristics, while geotechnical logging will assess rock stability and safety parameters essential for mine design. The drilling is expected to be completed within two weeks, leveraging existing camp infrastructure for efficiency.
Looking Ahead, A Transformational Quarter
Managing Director Paul Stephen highlighted the significance of these developments, describing the first quarter of 2026 as potentially transformational. With full ownership secured, funding in place, and critical drilling underway, GoldArc is positioning itself to move swiftly toward mining operations. The company’s focus on both partnerships and internal exploration efforts reflects a balanced approach to growth and risk management in a competitive gold exploration landscape.
Bottom Line?
GoldArc’s consolidation and funding activation set the stage for a pivotal phase; investors will watch closely for drilling results and mining progress.
Questions in the middle?
- What timeline does GoldArc envisage for transitioning from drilling to production at Mt Stirling?
- How will the 2% gross smelter royalty impact the long-term economics of the Mt Stirling project?
- What are the expected metallurgical recovery rates and how might they influence processing strategies?