USD $4,165.18
Goldman Expands Gold Footprint with High-Potential Near-Term Targets in WA
Hastings Technology Metals Ltd (ASX:HAS) has completed the acquisition of all shares in Great Western Gold Pty Ltd (GWG), securing a strategic interest in the Whiteheads Gold Project located approximately 80 km north-east of Kalgoorlie, Western Australia.
The acquisition delivers Hastings a 75% stake in a joint venture within the Whiteheads Gold Project, previously held by Great Boulder Resources, alongside 100% ownership of additional surrounding tenements not included in the JV. In total, the package covers ~380 km² and includes 14 licences (12 Exploration Licences, 1 Prospecting Licence, and 1 Mining Lease).
The acquisition consideration includes a cash payment of A$370,000, the issue of 3 million ordinary HAS shares, and deferred consideration of up to A$800,000 payable in HAS shares subject to JORC-compliant milestones.
The Whiteheads project positions Hastings within a well-explored gold corridor and includes over 10,000 m of historical drilling, along with soil sampling, gravity surveys, and geochemical data. This existing database is expected to accelerate resource definition and early-stage development options.
Confirmatory drilling at the high-priority Seven Leaders deposit is scheduled for September 2025, supporting Hastings’ aim to define a Maiden JORC Resource by the end of Q4 CY2025. Other targets within the project include Lady Betty and Blue Poles.
Hastings Executive Chairman, Mr Charles Lew said:
The Whiteheads Gold Project offers Hastings a low-cost entry to a well-understood gold exploration opportunity with significant upside potential. The advanced nature of the project allows us to immediately move forward with exploration and resource definition, leveraging extensive historical data across multiple previously identified drill targets and other untested gold anomalies at surface and close to Kalgoorlie, the Gold Capital of Western Australia.
With the acquisition completed, we will commence work soon to define a JORC resource during the quarter within the deposits of Seven Leaders (initially), Lady Betty and Blue Poles to follow. We recently signed a short term heritage agreement with the Kakarra people and we look forward to working with them to progress the project. We will soon commence confirmatory drilling work at Seven Leaders.
We consider that this acquisition together with our rare earth assets in Yangibana and Brockman, will have long term value accretion for shareholders.
