Errawarra Resources Ltd. ( (AU:ERW) ) has provided an announcement.
Errawarra Resources Ltd. has announced a significant acquisition of a 70% stake in the Elizabeth Hill Silver Project, located in the West Pilbara mining region of Western Australia. This acquisition, alongside a $3 million placement, positions the company to capitalize on the high-grade silver deposits and the potential for resource growth in a Tier 1 mining jurisdiction. The project, which ceased operations in 2000 due to low silver prices, is now poised for redevelopment with existing high-grade silver intercepts and a granted mining lease. The company plans to fast-track exploration and drilling activities, supported by a strong silver market and strategic partnerships with Alien Metals Limited and GreenTech Metals Limited. The acquisition is expected to enhance Errawarra’s exploration portfolio and provide low-cost operational opportunities, with the company proposing to rename itself West Coast Silver Limited.
More about Errawarra Resources Ltd.
Errawarra Resources Ltd. operates in the mining industry, focusing on exploration and development of mineral resources. The company is involved in the acquisition and exploration of high-grade silver projects, primarily in Western Australia, with a market focus on precious metals.
YTD Price Performance: -46.94%
Average Trading Volume: 142,632
Technical Sentiment Signal: Buy
Current Market Cap: A$2.49M
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