Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
West Cobar Metals Limited (ASX: WC1) has entered into agreements for the acquisition of 100% interest in the Mystique Project (E28/2513) from IGO Limited and a 70% stake in the Thunderstorm Project (three tenements in joint venture with Rumble Resources). These tenements, located in Western Australia’s Fraser Range, are highly prospective for orogenic gold deposits.
The acquisitions will enhance West Cobar’s existing copper-gold exploration portfolio. IGO’s prior exploration work, including gravity surveys, drilling, and geophysical analysis, has identified significant gold anomalies at the Mystique Project. The company plans to conduct further exploration drilling to define saprolite resources and potential large-scale deposits.
The transactions remain subject to shareholder approval and other regulatory conditions. Completion is expected by mid-2025, reinforcing West Cobar’s position in WA’s gold exploration sector.
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