GoldArc Secures Final Regulatory Approval for Mt Stirling Development
GoldArc Resources has cleared the last regulatory hurdle for its Mt Stirling gold project, enabling development to proceed under a 50/50 profit-share partnership with BML Ventures.
- DMPE approves Mining Development and Closure Proposal
- Final grade control assays imminent for detailed mine planning
- Development funded by BML Ventures with no shareholder capital call
- Mt Stirling located near active King of the Hills mill
- Next steps include sterilisation drilling and site establishment
Regulatory Green Light Unlocks Mt Stirling Development
GoldArc Resources (ASX:GA8) has secured a crucial regulatory approval from the Department of Mines, Petroleum and Exploration (DMPE) for its Mining Development and Closure Proposal (MDCP) covering the Mt Stirling and Mt Stirling Well deposits. This approval represents the final regulatory milestone before the company can transition from exploration to development, marking a significant step forward for the Leonora North Gold Project.
Located just 10 kilometres from the King of the Hills processing mill, Mt Stirling sits within a well-established mining precinct in Western Australia’s Eastern Goldfields. The project benefits from existing infrastructure and proximity to active operations, which can help streamline development and reduce capital intensity.
Partnership Model Mitigates Funding Risk
The project is funded under a 50/50 net profit-share agreement with BML Ventures, which has already financed the extensive 34,000-metre grade control reverse circulation (RC) drilling program. This arrangement means GoldArc shareholders retain full exposure to the project’s economics without facing additional capital calls, a notable advantage in an environment where funding remains a key hurdle for junior miners.
Managing Director Paul Stephen highlighted that the MDCP approval effectively converts nine rounds of grade control drilling into a shovel-ready development plan. With a fresh 6,600-metre RC program set to commence shortly, GoldArc aims to expand its resource base along strike and parallel to existing deposits, reinforcing its dual-track strategy of resource growth alongside partner-funded development.
Final Assays and Mine Planning on the Horizon
The next critical milestone is the receipt of final assay results from the ongoing drilling, which will enable detailed mine scheduling and optimisation. Additionally, sterilisation drilling will define locations for key infrastructure such as waste dumps and laydown areas, while site establishment planning; including offices and camp facilities; is underway.
These steps will culminate in a detailed mine schedule, setting the stage for the commencement of development activities. The approved MDCP consolidates mining and closure planning into a single document, streamlining regulatory compliance and operational readiness.
Broader Resource Potential in Eastern Goldfields
GoldArc’s Leonora North Project hosts a combined JORC Mineral Resource of approximately 152,000 ounces at 1.7 g/t Au, with an additional ~9 kilometres of untested strike along the Ursus Fault corridor. The company also holds the Leonora South Gold Project, including the Orion and Sapphire deposits, with a combined inferred resource of over 48,000 ounces at 2.15 g/t Au.
GoldArc’s aggressive exploration programs, including recent discoveries at its Yttria prospect and acquisitions expanding its footprint in the Leonora South corridor, complement its development ambitions at Mt Stirling. The company’s strategy balances resource growth with advancing partner-funded, capex-light development pathways, positioning it well in a competitive gold province.
Bottom Line?
With regulatory approval secured and funding locked in through a profit-share deal, GoldArc is poised to translate exploration success into tangible development progress at Mt Stirling, pending final assay results and detailed mine planning.
Questions in the middle?
- How will final assay results influence the detailed mine schedule and project economics?
- What timelines can be expected for transitioning from planning to actual mining operations?
- Could further resource expansion along the Ursus Fault corridor materially enhance project scale?
