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Thunderbird Resources ( (AU:XPD) ) has shared an update.
Xpedra Resources has agreed to acquire 100% of the high-grade Neeld Gold Project near West Wyalong in New South Wales from Saturn Metals, adding a second significant gold asset in the Lachlan Fold Belt to complement its Springfield Gold Deposit. Neeld covers the historic West Wyalong Goldfield, which produced about 439,000 ounces of gold at an average 41 grams per tonne between 1894 and 1915, with peak output in 1899 at 101 grams per tonne.
The project has seen minimal modern exploration, with only four drillholes deeper than 200 metres and most historic lodes barely tested below 50 metres, leaving mineralisation open at depth and along strike. Xpedra sees immediate potential to delineate unmined high-grade resources below historical stopes and to discover new lodes, strengthening its growth pipeline and positioning in a highly prospective gold belt while Saturn Metals exits a non-core asset to focus on its Western Australian development plans.
More about Thunderbird Resources
Xpedra Resources is an ASX-listed gold exploration company focused on high-grade projects in Australia’s Lachlan Fold Belt in New South Wales. Its portfolio includes the 100%-owned Springfield Gold Deposit, where a maiden drilling program is under way, and it is expanding its footprint through strategic acquisitions of under-explored, historically productive goldfields.
Average Trading Volume: 1,712,928
Technical Sentiment Signal: Sell
Current Market Cap: A$12.1M
For an in-depth examination of XPD stock, go to TipRanks’ Overview page.