ACDC Metals (ASX: ADC) has acquired an option to earn full ownership of the Mount Jackson gold-silver project in Nevada’s prolific Walker Lane district, backed by a $0.935 million placement and a planned $1.56 million rights issue to fund exploration.
- 100% earn-in option secured for Mount Jackson project, Nevada
- Historical drilling shows significant gold intercepts up to 7.38 g/t
- Placement raised $0.935 million with 1:3 rights issue planned
- Milestone payments and royalties structure tied to resource and production
- Airborne geophysics and drilling scheduled for second half 2026
Strategic Entry into Walker Lane’s Gold-Silver Belt
ACDC Metals (ASX:ADC) has made a decisive move into one of Nevada’s most mineral-rich corridors by securing rights to earn a 100% interest in the Mount Jackson gold-silver project. Located in the Walker Lane district, a Tier 1 geological zone known for producing over 20 million ounces of gold, Mount Jackson offers exposure to a low sulfidation epithermal system with promising historical drill results. The project covers 48 unpatented lode mining claims spanning roughly 3.6 square kilometres, with further claim staking underway to consolidate the area.
The acquisition agreement involves a staged schedule of lease payments, expenditure commitments, and milestone payments over five years, including a US$800,000 cash payment to exercise the option. Additional milestone payments of up to US$6 million are contingent on delivering a JORC or NI 43-101 compliant indicated resource of 500,000 ounces gold and reaching production targets of 50,000 and 250,000 ounces. A 3% net smelter return royalty applies, with an option to buy back 1% for US$2 million following a prefeasibility or feasibility study.
Historical Drilling Highlights and Project Geology
The Mount Jackson project’s historical drilling, primarily conducted by Pegasus Gold in the late 1980s and First American Silver in 2011, has revealed multiple zones of gold mineralisation. Notable intercepts include 25.9 metres at 1.94 g/t gold, with a higher-grade 6.1-metre section grading 7.38 g/t at the Pegasus prospect. These intercepts are significant for an underexplored epithermal system within a district hosting major miners such as Kinross Gold’s Round Mountain and AngloGold Ashanti’s Arthur Gold and North Bullfrog projects.
The mineralisation is associated with tabular siliceous alteration zones within Cambrian-age formations, with gold grades typically highest below limestone contacts. Copper oxides and argillic alteration in the western 3 Shafts prospect suggest additional exploration targets that have yet to see drilling. The company plans an airborne geophysical survey this quarter, followed by drilling commencing in the second half of 2026.
Capital Raise to Fund Exploration and Development
To finance the acquisition and exploration, ACDC Metals has completed a placement raising $936,500 at $0.05 per share, issuing 18.73 million shares with one free-attaching option for every two shares. Lead manager Cygnet Capital will also manage a non-renounceable 1-for-3 rights issue targeting up to $1.56 million. The rights issue shares will carry the same attaching option structure. Upon completion of both raises, the company expects to have around $2.37 million in new cash to advance Mount Jackson alongside its existing Australian projects.
The capital raising terms include broker options subject to shareholder approval, and the funds will support exploration in Nevada as well as ongoing development of ACDC’s rare earth projects in Victoria. This dual focus reflects the company’s strategy of balancing precious metals exposure with critical minerals development, a theme underscored by recent strong cash position in Goschen Central and advancement of rare earth testwork.
Positioning Amidst Active District and Upcoming Catalysts
The Walker Lane remains a hotbed of exploration activity, with major operators like AngloGold Ashanti and Kinross Gold investing heavily in the region. ACDC Metals’ entry into this district via Mount Jackson offers shareholders exposure to a high-grade, non-refractory gold-silver system distinct from Nevada’s Carlin and Cortez trends.
Upcoming milestones include completion of airborne geophysics and the commencement of drilling in H2 2026, which will be closely watched for confirmation of historical results and resource potential. Meanwhile, the company continues to progress its Goschen Central rare earth project, aiming to capitalise on growing demand for critical minerals.
Bottom Line?
Mount Jackson offers ACDC Metals a foothold in a proven gold district, but the path to value hinges on upcoming exploration results and milestone achievements.
Questions in the middle?
- Will the planned drilling confirm and extend historical gold-silver mineralisation at Mount Jackson?
- How will ACDC Metals balance exploration funding between Mount Jackson and its rare earth projects?
- What impact will milestone payments and royalties have on the project's long-term economics?