USD $4,127.96
Goldman Viking and Blair North Projects Add Scale and Quality to Exploration Portfolio
Mount Burgess Mining NL (ASX: MTB) has signed binding agreements to acquire 100% of the Viking Gold Project and the Blair North Project, both located in Western Australia, from Metal Hawk Limited (ASX: MHK) and Falcon Metals Limited (ASX: FAL).
The Viking Gold Project, located approximately 30km east of Norseman, features several high-grade intercepts, including:
- 6m @ 64 g/t Au from 50m
- 4m @ 15.4 g/t Au from 40m
- 3m @ 8.2 g/t Au from 43m
- 6m @ 5.1 g/t Au from 141m
The Blair North Project lies just 25km east of Kalgoorlie and is surrounded by established gold operations. Notable drill results include:
- 5.9m @ 6.7 g/t Au from 244.4m
- 2.5m @ 7.4 g/t Au from 255.4m
- 2m @ 2.5 g/t Au from 105m
- 6m @ 1.6 g/t Au from 40m
Permitting and approvals are underway with drilling expected to begin in Q4 2025. As part of the transaction, both MHK and FAL will become major shareholders of Mount Burgess, and Metal Hawk will nominate a board representative.
Mount Burgess has also secured A$900,000 in firm commitments through an oversubscribed placement to sophisticated investors at A$0.007 per share — an 18.5% premium to the 10-day VWAP.
Mount Burgess Executive Chairman Steve Lennon said:
We are delighted to have secured these two exciting West Australian gold projects. We believe this a great result for MTB shareholders as we look forward to realising the potential of these highly prospective and underexplored tenement packages. Commencing gold exploration on these projects will be the Company’s immediate focus as we endeavour to get on the ground and start work as soon as possible.The acquisitions are consistent with the Company’s three-pillar strategic plan released on 16 June 2025, in which the Board committed to advancing Kihabe–Nxuu while building the project pipeline through targeted acquisitions and partnerships. Today’s transactions implement Pillar 3 (Project Pipeline Growth).
