- OreCorp (ORR) has closed the acquisition of Cosmo Holding’s mineral tenements
- ORR picked up exploration licenses E31/1173 and E3/1175 and prospecting licence P31/2119 from Cosmo, all of which are situated northeast of Kalgoorlie
- OreCorp paid for the tenements with $50,000 and 941,529 OreCorp shares
- The company has experience in the region, with the Hobbes gold project located some 20 kilometres away from the new acquisitions
- OreCorp shares are steady at market open, trading for 32 cents per share
OreCorp (ORR) has announced it has closed the acquisition of the Cosmo Holdings exploration licenses, located in the Yerilla mineral district northeast of Kalgoorlie.
OreCorp acquired the tenements through its subsidiary OreCorp Holdings, who snapped up Cosmo’s exploration licenses, known as E31/1173 and E3/1175 and prospecting licence P31/2119. ORR acquired the tenements for the lowly price of $50,000 cash and the receipt of OreCorp shares.
As part of the deal, Cosmo will retain a one per net smelter royalty.
The tenements are located in the Yerilla mineral district of the North Coolgardie Mineral Field, which cover portions of the Edjudina Greenstone Belt, Pig Well Graben and the Keith-Kilkenny Tectonic zone.
The Keith-Kilkenny zone is a 300 km long major gold structure that hosts the Thunderbox, Carosue Dam, Porphyry, Million Dollar, Wallbrooke-Redbrooke and Karonie Gold deposits.
The two sites have had some exploration, but this was conducted in the 1960s, and has been restricted by the disjointed tenement ownership and poor funding.
OreCorp’s hope is that its consolidation of the tenements, along with its geological understanding of the region and targeting, will refine existing targets. They aim to achieve this through open file geophysical, drilling and geochemical data.
OreCorp also holds the Hobbes Gold project in the region, giving it some operating expertise within this mineralized zone.
The junior miner has also made other applications for mineral tenements in the area. OreCorp committed to starting fieldwork “as soon as practically possible.”
OreCorp (ORR) shares are steady at market open, trading for 32 cents per share at 11:23 am AEST.