WIN Metals has significantly bolstered its Radio Gold Project by acquiring the fully permitted Princess Royal Gold Mine and securing an exclusive option for the Stumpy Doodle Gold Mine, both promising high-grade gold potential and streamlined development pathways.
- Acquisition of Princess Royal Gold Mine with strong historical grades
- Exclusive 12-month option to acquire Stumpy Doodle Gold Mine
- Princess Royal Exploration Target estimated at 7,000–15,000 ounces gold
- Both assets on granted mining leases facilitating development
- Immediate drilling and exploration programs planned for 2026
Strategic Expansion of Radio Gold Project
WIN Metals Ltd (ASX:WIN) has taken a decisive step to expand and strengthen its flagship Radio Gold Project in Western Australia through two key transactions announced on 31 March 2026. The company has acquired the fully permitted Princess Royal Gold Mine, located approximately 80 kilometres southwest of Radio and just 5 kilometres from the Edna May Gold Mine, a historically prolific operation. Additionally, WIN has secured an exclusive option to acquire the Stumpy Doodle Gold Mine, situated 10 kilometres north of Radio.
These acquisitions are not merely about adding land; they bring high-grade gold assets with significant exploration upside and historical production credentials. Princess Royal, in particular, boasts an Exploration Target of 26,000 to 40,000 tonnes at 8.0 to 12.0 grams per tonne gold, translating to an estimated 7,000 to 15,000 ounces. Historical mining records highlight exceptional grades, including intercepts of 2 metres at over 30 grams per tonne.
Unlocking High-Grade Potential with Streamlined Development
Both Princess Royal and Stumpy Doodle are located on granted mining leases, a critical factor that supports a more streamlined pathway to potential development. This status reduces regulatory hurdles and accelerates the timeline for exploration and potential production. WIN Metals plans to commence drilling at Princess Royal in the second quarter of 2026, targeting extensions to known mineralisation and aiming to upgrade the current Exploration Target to a JORC-compliant Mineral Resource by the third quarter.
Meanwhile, exploration activities at Stumpy Doodle will proceed during the 12-month option period, including drilling with a minimum expenditure commitment. The option agreement includes a non-refundable fee and potential share issuance upon exercise, reflecting a structured approach to asset acquisition that balances risk and reward.
Enhancing Project Scale and Development Optionality
These transactions materially increase the scale and flexibility of the Radio Gold Project, which already contains a global Mineral Resource Estimate of 345,000 tonnes at 3.7 grams per tonne gold for 41,000 ounces. By adding multiple potential high-margin ore sources, WIN Metals enhances its development optionality, providing alternatives for future mining and processing strategies.
Managing Director Steve Norregaard emphasised the strategic value of these acquisitions, noting that they align with WIN’s regional approach to growth by securing stranded high-grade opportunities. The proximity of Princess Royal to the Edna May Gold Mine, which has produced over one million ounces since 1910, adds further geological and economic appeal.
Looking Ahead: Drilling and Development Plans
WIN Metals is advancing immediate work programs to integrate these new assets into the broader Radio project area. Drilling results from Princess Royal are expected in the third quarter of 2026, which will be pivotal in confirming resource potential and guiding subsequent development decisions. Concurrently, exploration at Stumpy Doodle will assess its satellite potential, complementing the core Radio project.
Beyond gold, WIN Metals continues to progress its diversified portfolio, including nickel and lithium projects in Western Australia, underscoring its commitment to building long-term shareholder value through critical and precious metals.
Bottom Line?
With high-grade acquisitions and imminent drilling, WIN Metals is poised to redefine the scale and potential of its Radio Gold Project in 2026.
Questions in the middle?
- Will drilling at Princess Royal convert the Exploration Target into a JORC-compliant Mineral Resource?
- How will the royalty arrangements impact the long-term economics of the Princess Royal acquisition?
- What exploration results and development timelines can investors expect from Stumpy Doodle during the option period?