E79 Gold Mines has significantly expanded its Western Australian footprint by acquiring a 90% stake in Cue Metals, gaining access to the highly prospective Cue Gold Project in the Murchison region. The company has also launched a high-resolution gravity survey and reported promising exploration results across its key projects.
- Acquisition of 90% interest in Cue Metals and Cue Gold Project
- Initiation of high-resolution gravity survey to identify gold structures
- Encouraging gold anomalies at Laverton South and high-grade copper at Mountain Home
- $3 million capital raise completed to fund exploration activities
- Appointment of Matthew Bowles as non-executive director to support growth
Strategic Acquisition Enhances WA Gold Exposure
E79 Gold Mines Limited (ASX – E79) has taken a decisive step to strengthen its position in Western Australia's prolific gold mining landscape with the acquisition of a 90% interest in Cue Metals Pty Ltd. This deal, completed in December 2025, brings the Cue Gold Project under E79's control, a 65 square kilometre tenure located in the renowned Murchison Gold Province, adjacent to the high-grade Day Dawn goldfield.
The Cue Gold Project sits immediately south of Westgold Resources’ Great Fingall Gold Mine, a historically rich operation with over 1.2 million ounces produced at an impressive average grade of 19.2 grams per tonne. E79's CEO Ned Summerhayes highlighted the geological similarities and structural continuity between Cue and these established mines, positioning the project as a compelling exploration opportunity.
Exploration Advances and New Survey Initiatives
To unlock the project's potential, E79 has commenced a high-resolution gravity survey designed to detect concealed structural features that may host high-grade gold mineralisation. This technique has proven effective in neighbouring projects, helping to delineate targets beneath shallow cover that traditional methods might miss.
Beyond Cue, E79 reported encouraging results from its Laverton South Gold Project, where air-core drilling identified low-level gold anomalies beneath regional paleochannels, and prospectors uncovered multiple gold nugget patches at Pinjin. Meanwhile, in the Northern Territory's Mountain Home Project, rock chip sampling revealed high-grade copper assays, including values exceeding 30% copper, expanding the known mineralised footprint.
Financial Position and Leadership Strengthening
Supporting these exploration efforts, E79 successfully completed a $3 million capital raise during the quarter, bolstering its cash reserves to $3.6 million. These funds are earmarked primarily for advancing exploration at Cue, including further geophysical surveys and initial drilling campaigns.
In a move to reinforce its leadership team, E79 appointed Matthew Bowles as a non-executive director. Bowles, a respected mining executive, played a pivotal role in securing the Cue acquisition and is expected to contribute valuable expertise as the company pursues its growth strategy.
Outlook for 2026
With a strengthened portfolio, fresh capital, and a focused leadership team, E79 Gold Mines is well positioned to advance its exploration programs across Western Australia and the Northern Territory. The coming months will be critical as the company interprets gravity survey data and undertakes drilling to test high-priority targets, potentially unlocking significant value for shareholders.
Bottom Line?
E79’s bold acquisition and exploration push set the stage for a pivotal year in unlocking hidden gold and copper potential.
Questions in the middle?
- How will the high-resolution gravity survey reshape exploration targets at Cue?
- What are the timelines and expectations for drilling results at Cue and Mountain Home?
- How might Matthew Bowles’ appointment influence E79’s strategic direction and partnerships?