Ragusa Secures Controlling Stake in Arizona’s Purple Pansy Manganese-Gold Project
Ragusa Minerals has executed a binding agreement to acquire a majority interest in the Purple Pansy manganese-gold project in Arizona, expanding its landholding and raising $600,000 to fund exploration.
- Binding Heads of Agreement to acquire ~60% of Pegasus Tel Inc. and Purple Pansy Project
- Project land expanded by 201 claims to approximately 4,142 acres
- Private placement raised $600,000 to support exploration and corporate activities
- Planned work includes drilling, metallurgical testing, and environmental baseline studies
- Project positioned as a critical U.S. manganese asset benefiting from federal initiatives
Ragusa’s Strategic Acquisition in Arizona
Ragusa Minerals Limited (ASX – RAS) has taken a significant step in its growth strategy by executing a binding Heads of Agreement to acquire a controlling interest of approximately 60% in Pegasus Tel Inc., which holds the Purple Pansy Manganese-Gold Project in Arizona, USA. This move positions Ragusa at the forefront of critical mineral exploration in a mining-friendly jurisdiction that is gaining increasing strategic importance.
The Purple Pansy Project, located about 80 kilometres northwest of Phoenix in the Aguila Mining District, is notable for its historical gold and manganese operations. Ragusa has expanded the project’s footprint by staking an additional 201 claims, increasing the total landholding to around 4,142 acres. This expanded area covers a 9-kilometre-long zone rich in prospective geological structures and historical mining sites, including Valley View, Pansy, and Black Bart.
Exploration and Development Plans
Ragusa plans a comprehensive work program to unlock the project’s potential. This includes evaluating historical data, conducting field inspections of old mine workings, geological assessments, drilling and sampling to confirm mineralisation, metallurgical testing to understand recovery processes, and baseline environmental studies aligned with U.S. regulatory standards. The company is also engaging with government and industry partners to leverage U.S. critical minerals initiatives, such as the FAST-41 permitting process and federal funding grants.
The strategic importance of manganese, designated a critical mineral by the U.S. government, cannot be overstated. The United States currently imports 100% of its manganese needs, which is essential for national defence, renewable energy infrastructure, and advanced battery technologies. The Purple Pansy Project’s proximity to the Wenden Manganese Stockpile and parallels with South 32’s government-supported Hermosa Project underscore its potential significance.
Funding and Corporate Developments
To support its exploration ambitions, Ragusa successfully raised $600,000 through a private placement at 3 cents per share. These funds will finance priority exploration activities at Purple Pansy, assess new project opportunities, and cover corporate costs. As of 31 December 2025, the company held cash reserves of approximately $311,000.
The transaction to acquire Pegasus Tel Inc. remains subject to customary conditions precedent, including due diligence and regulatory approvals, with completion expected in February 2026. Strategic support from Red Beryl Mining Company will assist Pegasus in investor relations and district-scale development over the next two years.
Shifting Focus and Future Opportunities
In line with its focus on the Purple Pansy Project, Ragusa has relinquished its Burracoppin Project in Western Australia. The company continues to review additional strategic mineral project opportunities in the United States, aiming to build a portfolio aligned with critical mineral demand and government priorities.
Ragusa’s acquisition and expansion of the Purple Pansy Project mark a pivotal moment as it seeks to establish a cornerstone manganese and gold asset in the U.S. This aligns with broader national efforts to secure domestic supply chains for critical minerals essential to energy transition and defence.
Bottom Line?
Ragusa’s next moves in exploration and regulatory approvals will be critical to unlocking the Purple Pansy Project’s full potential amid rising U.S. demand for critical minerals.
Questions in the middle?
- When will the Pegasus Tel Inc. acquisition be fully completed and integrated?
- What early exploration results can investors expect from the Purple Pansy drilling program?
- How might U.S. government policies and funding accelerate or impact project development?
