Clara signs binding agreement for Hodgkinson Basin gold project acquisition

Clara Resources Australia has signed a binding statement for the 100% acquisition of the Hodgkinson Basin golden task successful Far North Queensland, Australia.

Situated astir 90km westbound of Cairns, the task comprises 3 granted exploration permits for minerals (EPMs), covering a tenement bundle of 265km² successful the historically productive golden region.

These tenements are located wrong the Hodgkinson province, a geological terrane that yielded much than 1.6 cardinal ounces (moz) of golden from the Palmer River and Hodgkinson goldfields successful the precocious 19th and aboriginal 20th centuries.

The tenement spans much than 13km of a large determination shear portion and contains successful excess of 130 humanities exploration drill-holes, providing a coagulated level for follow-up geological evaluation.

Despite its closeness to historical mining operations, it remains comparatively under-explored, offering sizeable imaginable for caller discoveries.

To implicit the acquisition, Clara volition contented 533,333,333 shares and marque staged currency payments totalling A$1.25m ($820,000) .

Completion of the woody is contingent upon shareholder support and different modular conditions.

Clara plans to instrumentality a two-stage exploration programme successful 2026, targeting accelerated advancement of the task towards an archetypal Joint Ore Reserves Committee-compliant mineral assets estimation portion evaluating zones with beardown exploration upside.

Clara managing manager Peter Westerhuis said: “This is simply a transformational acquisition for Clara Resources. The Hodgkinson Basin is simply a world-class golden state that has been overlooked for galore years. The humanities high-grade drill results, combined with the extended onslaught magnitude of the mineralised system, springiness america large assurance successful the imaginable of this project.

“We person a wide strategy to rapidly unlock this imaginable done a systematic and assertive exploration programme successful 2026. This volition beryllium a precise breathtaking twelvemonth for Clara arsenic we simultaneously advancement the Ashford Coking Coal Project to pre-feasibility survey status.”

Clara has appointed Cerberus Advisory and HopgoodGanim Lawyers arsenic its fiscal and ineligible advisors for the transaction, which volition enactment the institution done the acquisition process.

In July 2024, Clara completed the acquisition of Renison Coal, which owns the Ashford coking ember task successful New South Wales, Australia.

"Clara signs binding statement for Hodgkinson Basin golden task acquisition" was primitively created and published by Mining Technology, a GlobalData owned brand.

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