Dundas Minerals has locked in Exploration Licence E38/4002, securing the 5km Bloodwood gold anomaly within its Romano Project in Western Australia. Historical drilling highlights promising gold grades, setting the stage for systematic exploration pending heritage approvals.
- Exploration Licence E38/4002 granted covering 270km² at Romano Project
- Bloodwood anomaly spans 5km with historical drilling showing up to 9.53 g/t gold
- Licence grant triggers milestone payment to Cazaly Resources
- Next steps focus on native title, heritage approvals, and systematic drilling
- Bloodwood sits on major Yamarna Shear Zone near significant gold deposits
Exploration Licence Secures Large Gold Anomaly
Dundas Minerals Limited (ASX:DUN) has officially secured Exploration Licence E38/4002, covering roughly 270 square kilometres in Western Australia's Mount Margaret Mineral Field. This licence, granted on 18 August 2026, locks down the entire 5km strike length of the Bloodwood gold anomaly, the Romano Project's most advanced exploration target to date.
Bloodwood's significance lies in its size and promising historical drill results. Air core drilling previously returned a standout 12 metres at 3.31 grams per tonne (g/t) gold from just 20 metres depth, including a high-grade 4 metres at 9.53 g/t gold. A diamond drill hole beneath this intercept confirmed primary gold mineralisation continuing into fresh rock with 2.95 metres at 1.95 g/t from 113.45 metres.
Strategic Position on Major Structural Corridor
The Bloodwood prospect sits on the eastern margin of the Yamarna Shear Zone, a major structural corridor that hosts significant gold deposits such as the Golden Highway deposits 20 kilometres south and the 6.05 million ounce Gruyere gold mine 35 kilometres to the southeast. This structural setting enhances the prospectivity of Bloodwood, suggesting it forms part of the same regional gold system.
Despite these encouraging signs, Dundas emphasises that drilling to date has been shallow, widely spaced, and regional in nature. The existing data stops near the base of transported cover, with only one diamond hole testing mineralisation below the weathered profile. This leaves substantial scope to extend the known mineralised system both along strike and at depth.
Milestone Payment and Licence Details
The licence is registered to Cazaly Resources Limited (ASX:CAZ), with Dundas holding the right to earn an 80% interest in the Romano Project under an earn-in agreement. The grant of E38/4002 triggers a milestone payment of $150,000 in cash and a $150,000 share issue to Cazaly, subject to shareholder approval. Should approval not be granted, Dundas will pay the full amount in cash.
Other exploration licence applications within the Romano Project remain pending, with Dundas actively working to secure these to consolidate its landholding in this frontier gold terrain.
Next Steps Focus on Access and Systematic Drilling
While Dundas’ near-term drilling capital is committed to its Kalgoorlie projects, Rockland, Capricorn, and Baden-Powell, where heritage clearances and drilling approvals are in place, the Romano Project will see preparatory work underway. This includes progressing native title and heritage approvals necessary for ground-disturbing activities at Bloodwood.
The company is also compiling and reinterpreting historical datasets to design the first systematic reverse circulation and diamond drilling program aimed at testing the anomaly’s strike and depth extensions. The scale of the anomaly, combined with its location within a prolific gold district, makes Bloodwood a compelling exploration target despite its early-stage status.
Managing Director Jonathan Downes highlighted the rarity of securing granted ground over such a significant anomaly, noting the excitement around extending a known gold system rather than starting with first-pass exploration. Dundas’ approach reflects a methodical progression, balancing its portfolio priorities while unlocking value in underexplored terrain.
Bottom Line?
Dundas' licence grant at Bloodwood sets the stage for systematic drilling in a highly prospective gold corridor, but progress hinges on native title and heritage approvals.
Questions in the middle?
- How quickly will Dundas secure native title and heritage clearances to commence drilling at Bloodwood?
- Can systematic drilling confirm a significant resource along the 5km Bloodwood anomaly?
- What impact will the milestone payment to Cazaly have on Dundas’ capital allocation and exploration budget?