Regis Resources Ltd has beefed up its holding in the Duketon greenstone belt, Western Australia, with the acquisition of Stone Resources Australia Ltd’s tenements for the North Brightstar gold project.
The acquisition cost $10 million in Regis shares and a capped 1% NSR on M38/339 which hosts the 290,000oz Ben Hur gold deposit. The royalty will begin to be paid after the production of the first 100,000 ounces from M38/339.
“At the same time the exploration tenure acquired with the Ben Hur deposit has the potential for additional ounces to be discovered and added to our already substantial resource and reserve holdings,” Regis managing director Jim Beyer said.
Read more about Regis in our upcoming preview editions to Diggers & Dealers in Australia’s Paydirt and GMJ magazines.