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- Western Australia mineral company OreCorp (ORR) has further extended its presence in the Eastern Goldfields
- The company has purchased a new mining tenure, which includes four granted exploration licences and one prospecting licence
- The new tenements are located around 150 kilometres from Kalgoorlie and are considered to be highly prospective for gold mineralisation
- Notably, one of the licences, P31/2118, covers a proportion of the Yilgangi Mining Centre which includes at least four historical mines
- Orecorp is down 3.68 per cent on the market today and is trading at 65.5 cents per share
OreCorp (ORR) has entered into agreements to purchase a 275 square kilometre mining tenure in the Eastern Goldfields in Western Australia.
The purchase includes four granted exploration licences and one prospecting licence.
The new land is located at OreCorp’s Yarri Project area in the Yerilla District of the North Coolgardie Mineral Field, approximately 150 kilometres northeast of Kalgoorlie.
Importantly, the new tenements cover a portion of the Edjudina Greenstone Belt, Pig Well Graben, the north-northwest trending Keith-Kilkenny Tectonic Zone (KKTZ), and the Yilgangi Mining Centre.
The KKTZ is about 300 kilometres long and is a major crustal-scale structure that is home to the Thunderbox, Carosue Dam, Porphyry, Million Dollar, Wallbrook-Redbrook and Karonie gold deposits.
OreCorp says the new tenements are considered to be highly prospective for gold mineralisation and has potential to host target areas that could be drill tested.
Notably, one of the licences, P31/2118, covers a proportion of the Yilgangi Mining Centre, which includes at least four historical mines. However, the company has said the tenements have been largely under-explored.
“The acquisition of these New Tenements further consolidates OreCorp’s position in the Eastern Goldfields and underpins its strategy to acquire a significant exploration package in WA,” the company said.
Orecorp is down 3.68 per cent on the market today and is trading at 65.5 cents at 1:54 pm AEDT.
