Woomera acquired a prominent copper-gold project in the renowned Mongolian copper belt

Woomera Mining Limited (ASX: WML) has secured an advanced copper-gold project by signing a binding term sheet to earn an 80% interest in the Bronze Fox Copper-Gold Project located in Mongolia's Southern Gobi copper belt. The project boasts an Inferred Mineral Resource of 194.1 million tonnes, averaging 0.2% copper and 0.07 g/t gold, with significant potential for resource expansion. Woomera plans to invest US$4 million in two phases to achieve this interest and has the option to purchase 100% afterward. A drilling program is set to begin in the September quarter to target new greenfield areas and expand existing resources. Additionally, the company has secured commitments for an AU$1.7 million share placement and an AU$0.3 million Share Purchase Plan for eligible shareholders.

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