The eight concessions include Star of Hope, Golden Bar, Alliance Reef, Stanleys, Lady Mary, Waddery West, Wittagoona Reef and Toolom South
Sentinel Resources has acquired stake in eight gold-focused exploration concessions, spanning a total of around 94,500 hectares (945km2), in New South Wales, Australia.
The concessions acquired through the transaction include Star of Hope, Golden Bar, Alliance Reef, Stanleys, Lady Mary, Waddery West, Wittagoona Reef and Toolom South.
Sentinel said that the newly acquired gold projects contain a minimum of around 198 historic gold mines and gold exploration prospects, with historic production records showing multi-ounce gold grades.
Sentinel president and CEO Rob Gamley said: “The acquisition of eight strategically located Gold Projects, within the prolifically mineralized Lachlan and New England orogenic belts, provides the Company with an extremely solid exploration portfolio on which to build.
“To acquire such a commanding land package, with numerous high-grade historic gold mines and showings, is a remarkable achievement given the large numbers of companies that are now focusing their acquisition and exploration activities in New South Wales. Our highly experienced team continues to review precious metal opportunities worldwide.”
Sentinel will be the 100% owner of the concessions
The company has applied to the Manager of Minerals Titles, New South Wales Department of Mining, Exploration and Geosciences for the concessions.
Once the transaction is completed, the company will be the 100% owner of the concessions, with no royalties or back-in rights.
Sentinel is expected to begin a reconnaissance work programme at the high-grade historic mines and showings in November 2020, using its exploration team, to identify high-grade drill ready targets.
The gold projects are located within the mineralised Lachlan and New England orogenic terranes, said the company.