Recharge Metals has locked in a heritage survey and lodged a mining lease application over its Prospero Deposit, setting the stage for a maiden 30,000m drilling campaign at Sunset Well in WA’s Eastern Goldfields.
- Heritage survey scheduled for late August 2026
- Mining lease application submitted for Prospero Deposit
- Maiden 30,000m drill program to start early Q4 2026
- Prospero hosts 94,500oz inferred gold resource
- Company holds $5.6 million cash for exploration
Heritage Survey Clears Path for First Drilling in Nearly 30 Years
Recharge Metals (ASX:REC) has confirmed that a heritage survey at its Sunset Well Project near Leonora, Western Australia, is set to begin in late August 2026. This survey represents the final major hurdle before launching the company’s maiden 30,000-metre drilling program, targeted to commence in early Q4 2026. The drilling will mark the first systematic exploration at the Prospero Deposit since the mid-1990s, leveraging modern techniques to test this historically promising gold prospect.
Mining Lease Application Submitted to Support Future Production
Alongside the heritage survey, Recharge has submitted a Mining Lease Application (M37/1470) covering 1,162 hectares that encompass the Prospero Deposit and surrounding infrastructure footprint. This step initiates permitting and approvals necessary for potential mining operations, running in parallel with exploration efforts. The lease area includes a proposed 2.7-kilometre haul road connecting to the bitumised Leonora–Laverton Road, facilitating access to regional processing facilities.
Prospero Deposit: A 94,500 Ounce Inferred Resource with Upside
The Prospero Deposit hosts an inferred mineral resource of 2.87 million tonnes at 1.0 grams per tonne gold, equating to 94,500 ounces, reported under the JORC Code (2012). This resource remains open both along strike and at depth, with only three drill holes historically extending beyond 100 metres vertical depth. Historical drilling has yielded significant intercepts, including 36 metres at 2.73 g/t Au and a high-grade 0.8 metre interval grading 21.7 g/t Au near 102 metres depth, underscoring the deposit’s exploration upside.
Strategic Location and Strong Funding Position
Sunset Well is strategically located within 100 kilometres of seven operating gold mills in the prolific Eastern Goldfields Terrane, with the Prospero Deposit just 8 kilometres from Leonora. Recharge enters this phase well funded, holding approximately $5.6 million in cash, positioning the company to advance exploration and development activities without immediate capital constraints.
Next Steps in Exploration and Development
Following the heritage survey, Recharge plans to complete the acquisition of the Ironstone Well project, further expanding its footprint along the Prospero Trend. The upcoming drilling campaign will primarily focus on the Prospero Deposit and the broader 15-kilometre trend, with reconnaissance exploration planned across regional targets. These efforts aim to build on the existing resource base and unlock additional discoveries within this underexplored corridor.
Bottom Line?
The heritage survey and mining lease application mark tangible progress towards unlocking the Prospero Deposit’s potential, but the timing of drilling results and lease approvals will be critical milestones to watch.
Questions in the middle?
- Will the heritage survey report confirm a clear path for uninterrupted drilling?
- How will the maiden drilling results impact the size and grade of the Prospero resource?
- What is the expected timeline for mining lease approval and commencement of mining activities?