Premier1 Lithium Limited has completed the full acquisition of the Yalgoo Gold Project in Western Australia, consolidating its position in a highly prospective gold belt and preparing for an aggressive exploration campaign in 2026.
- Premier1 now holds 100% ownership of the 266km² Yalgoo Gold Project
- Project hosts an inferred mineral resource of 150,000 tonnes at 2.7 g/t Au (13,000 ounces)
- Strategic location near major producers Ramelius Resources and Capricorn Metals
- Experienced Executive Director Simon Phillips to lead exploration efforts
- Company secured $650,000 placement to fund drilling and development
Strategic Consolidation in Western Australia's Gold Belt
Premier1 Lithium Limited (ASX, PLC) has marked a significant milestone by completing the 100% acquisition of the Yalgoo Gold Project, located within the highly prospective Yalgoo–Singleton Greenstone Belt in Western Australia. This consolidation simplifies the ownership structure and grants Premier1 full control over exploration, development, and capital allocation decisions across a substantial 266 square kilometre landholding.
The Yalgoo Project is strategically positioned just 10 kilometres southeast of Ramelius Resources’ Melville and Applecross prospects, and near Capricorn Metals’ operations to the south. This proximity places Premier1 at the heart of a prolific gold-producing region, enhancing its potential to unlock value through focused exploration and development.
Resource Base and Exploration Upside
Central to the project is the Wadgingarra Prospect, which hosts an inferred mineral resource estimate of approximately 150,000 tonnes at 2.7 grams per tonne gold, equating to around 13,000 ounces. This resource remains open along strike and at depth, signalling considerable upside potential. Historical drilling has returned encouraging high-grade intersections, including 31.5 grams per tonne gold at Crescent South and 10 metres at 3.1 grams per tonne at Carlisle, confirming the presence of multiple mineralised systems.
Premier1’s geological team is poised to advance exploration aggressively in 2026, targeting extensions of known mineralisation and new walk-up drill targets such as the Mt Kersey area. The project benefits from excellent infrastructure and accessibility, located roughly 400 kilometres north of Perth and 200 kilometres east of Geraldton, with nearby processing facilities that could support future development.
Leadership and Funding to Drive Growth
Simon Phillips, transitioning from Non-Executive to Executive Director, will spearhead the Yalgoo Project’s next phase. With a strong track record in precious metals exploration and development, Phillips’ appointment signals Premier1’s commitment to advancing the project efficiently and effectively.
To support these ambitions, Premier1 has secured a $650,000 placement at a modest discount to fund drilling and exploration activities. Additionally, the company has issued performance rights to key directors, aligning incentives with shareholder value creation as the project progresses.
Strategic Implications and Market Positioning
This acquisition aligns with Premier1’s broader strategy to build a high-quality portfolio of gold assets in Western Australia’s premier mining jurisdictions. Full ownership enables streamlined decision-making and prioritisation of exploration expenditure, potentially accelerating resource growth and enhancing the company’s market profile.
While the acquisition excludes rare earth element rights retained by Critica Limited, Premier1’s focus remains firmly on gold and copper prospects within the Yalgoo Project’s extensive tenure. The consolidation positions the company well to capitalise on the region’s rich mineral endowment and to deliver value for shareholders through disciplined exploration and development.
Bottom Line?
Premier1’s full control of Yalgoo sets the stage for a pivotal exploration year that could redefine its growth trajectory.
Questions in the middle?
- How quickly can Premier1 expand the existing mineral resource at Wadgingarra?
- What impact will Simon Phillips’ leadership have on exploration outcomes and project advancement?
- How will the exclusion of rare earth element rights affect the project’s long-term value?