Dundas Minerals has secured an 80% interest in the Romano Gold Project near the Gruyere Mine and raised $1.1 million to accelerate exploration and development. New leadership and advanced AI targeting signal a strategic push into Western Australia's prolific gold belts.
- Acquisition of 80% interest in Romano Gold Project covering 800 km²
- Capital raising of $1.1 million to fund exploration and working capital
- Appointment of Jonathan Downes as Managing Director and key executive hires
- Advanced AI targeting applied to Gerry Well and Kalgoorlie projects
- Strong cash position with $1 million at quarter end and planned drilling
Strategic Acquisition Near Gruyere Gold Mine
Dundas Minerals Limited has made a significant leap in its exploration ambitions with the acquisition of an 80% interest in the Romano Gold Project, a sprawling 800 square kilometre tenement package located in the northeastern Goldfields of Western Australia. Situated immediately north of the operating Gruyere Gold Mine, which boasts an estimated 6 million ounce gold resource, the Romano Project lies within the highly prospective Yamarna–Dorothy Hills shear corridor. While Dundas cautions that no geological continuity with Gruyere has yet been established, the proximity underscores the potential for meaningful discoveries in this underexplored frontier.
The Romano Project includes several priority targets supported by historical drilling and geochemical data, notably the Bloodwood Prospect, where previous shallow drilling returned encouraging intercepts such as 12 metres at 3.3 grams per tonne gold. Limited follow-up drilling to date leaves ample room for exploration upside.
Capital Raising and Leadership Refresh
To underpin its growth strategy, Dundas successfully completed a capital placement raising $1.12 million before costs, attracting new institutional investors. These funds are earmarked for advancing exploration programs across Dundas’ portfolio, including the newly acquired Romano Project, as well as the Gerry Well and Kalgoorlie gold projects.
Leadership changes have also marked the quarter, with Jonathan Downes appointed as Managing Director following the retirement of founding MD Shane Volk. Downes brings over 30 years of experience in mineral exploration and development, with a proven track record of growing small-cap explorers into producers. Complementing this, the company appointed Aida Tabakovic as Company Secretary and geologist Callum Rodwell, strengthening its technical and corporate capabilities.
Innovative Exploration and Project Pipeline
Dundas is leveraging advanced AI targeting technologies to prioritise drill targets at its Gerry Well Project, a 600 square kilometre tenement package characterized by largely covered greenstone belts with limited historical exploration. The company’s use of SensOre’s DPT and SAM modelling integrates multiple geophysical and geological datasets, enhancing the precision of exploration efforts.
Meanwhile, review and planning activities have commenced at the Kalgoorlie gold projects, including resource expansion drilling at Capricorn and Baden Powell, which hold inferred mineral resources estimated at around 48,500 ounces combined. The Rockland prospect within this suite remains open at depth and along strike, presenting further exploration potential.
Financial Position and Outlook
At the end of December 2025, Dundas reported a robust cash balance of approximately $1 million, supported by the recent capital raise. Operating cash outflows were consistent with exploration activities, and the company maintains sufficient funding to support its planned programs over the coming quarters.
Looking ahead, Dundas plans to undertake follow-up drilling to validate historical results at Romano and Gerry Well, aiming to unlock value from its extensive tenement holdings. The company’s strategic focus on underexplored but highly prospective gold belts, combined with a refreshed leadership team and innovative targeting methods, positions it well for potential growth in 2026.
Bottom Line?
With a strengthened balance sheet and a prime landholding near Gruyere, Dundas Minerals is poised to turn exploration potential into tangible value.
Questions in the middle?
- Will upcoming drilling at Romano confirm continuity with the prolific Gruyere shear zone?
- How effectively will the new management team execute on exploration and development plans?
- What impact will AI-driven targeting have on accelerating discovery success across Dundas’ projects?