Dundas Minerals Exercises Option to Acquire High-Grade Rockland Gold Project

Dundas Minerals Limited ( (AU:DUN) ) just unveiled an announcement.

Dundas Minerals has exercised its option to acquire a 100% interest in the Rockland Gold Project, a granted mining lease about 40km north of Kalgoorlie that has seen no prior modern mining. The company will pay $100,000 in cash and grant the vendor a 1.5% net smelter royalty on gold production, retaining a first right of refusal to repurchase the royalty.

The decision follows a reverse circulation drilling campaign of 12 holes totalling 1,688m that tested strike and depth extensions of a roughly 1km-long trend of significant gold mineralisation. With standout high-grade intercepts already reported and mineralisation interpreted to extend toward the nearby Aquarius prospect, Rockland is emerging as a potentially important growth asset for Dundas as it works toward defining a maiden mineral resource on the lease.

The most recent analyst rating on (AU:DUN) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Dundas Minerals Limited stock, see the AU:DUN Stock Forecast page.

More about Dundas Minerals Limited

Dundas Minerals Limited is an Australian exploration company focused on gold projects in Western Australia, particularly near the Kalgoorlie district. The company targets high-grade gold mineralisation on granted mining leases, aiming to advance discoveries through systematic drilling programs toward potential resource definition.

Average Trading Volume: 524,504

Technical Sentiment Signal: Hold

Current Market Cap: A$9.19M

For a thorough assessment of DUN stock, go to TipRanks’ Stock Analysis page.