Duketon Mining (ASX:DKM) secures option over Boodanoo Gold Project and outlines exploration strategy

Duketon Mining Limited (ASX:DKM) has announced it has signed an option agreement to acquire 100 percent of the Boodanoo Gold Project, located 80 kilometres south southeast of Mount Magnet in Western Australia.

The project offers a significant exploration opportunity, with historical soil sampling defining a 2 kilometre long gold anomaly that has never been drill tested.

To provide clarity on the importance of this development, Duketon’s Managing Director Stuart Fogarty addressed key investor questions.

What attracted Duketon Mining to the Boodanoo Gold Project?

What attracted us to the Boodanoo Gold Project is the combination of strong historical exploration results and the fact that the ground remains completely untested by drilling.

In 2021, a soil sampling program collected 652 samples and outlined a 2 kilometre long gold anomaly with values up to 66.1 parts per billion.

Despite this, no drilling has ever been conducted over the anomaly, leaving its potential entirely open.

“The soil sampling results outline a sizable anomaly that has never been drill tested.”

The project is located within a well-established gold producing district near Mount Magnet, with access via highway, gravel roads and station tracks.

For Duketon, Boodanoo represents a low-cost entry point into a highly prospective area and allows us to apply modern exploration techniques to a target in an area that has seen very little gold focused work previously.

What are the terms of the option agreement?

The option agreement is with Western Yilgarn NL, who hold the tenement through their subsidiary.

Duketon has secured a 12-month exclusive option by paying a non-refundable amount of $7,500, which gives us the right to carry out exploration activities on the ground during this period.

“Within this 12-month period, Duketon intends to conduct exploration activities to understand the mineralisation and potential of the Boodanoo Project.”

If we decide to proceed, we can acquire 100 percent of the project by issuing 500,000 fully paid ordinary shares in Duketon Mining Limited to Western Yilgarn NL.

This arrangement enables us to thoroughly evaluate the project before committing to acquisition while keeping upfront costs very low.

What exploration work will Duketon carry out during the option period?

During the option period we will build on the historic work with a program of surface exploration, including additional geochemical sampling, rock chipping and geological mapping.

This work will verify the historic soil sampling results, extend the coverage where possible and improve our understanding of the geological controls.

“Initial work programs will focus on further geochemical sampling, rock chipping and mapping with the goal of better defining the target before executing a drill program to test the gold anomaly.”

Once this initial stage is complete, we intend to design and execute a drilling program targeting the most prospective parts of the anomaly.

This will mark the first ever drilling over the anomaly, providing us with the opportunity to test its potential directly.

How does this project fit within Duketon’s overall strategy?

The Boodanoo Gold Project is consistent with our strategy of acquiring low entry cost projects that can be rapidly advanced through the exploration process.

Our approach is to create optionality for shareholders by building a portfolio of projects with genuine discovery potential, without committing large amounts of capital upfront.

Adding Boodanoo strengthens our position in Western Australia, adding to the diversification of our exploration portfolio and gives us exposure to gold in a proven district.

This supports our long-term objective of building shareholder value through disciplined exploration.

What is the geological context and why is it significant?

The project lies along the southwestern margin of the Windimurra layered mafic ultramafic intrusive complex, which has historically been explored for nickel, copper and platinum group elements.

The tenement hosts Archean metagabbro and meta monzogranite, with several regional faults mapped across the area. While there has been extensive work on base metals, there has been very little gold exploration.

In 2021, a soil sampling program by Seremin Pty Ltd identified a gold anomaly extending about 2 kilometres, defined by values above 10 parts per billion and peaking at 66 parts per billion.

The anomaly remains open to the north and south and has never been tested by drilling.

This combination of geological setting, anomaly scale and lack of previous drilling makes the Boodanoo Project a compelling exploration target.

Building Value Through Disciplined Growth

As Managing Director Stuart Fogarty highlights, the Boodanoo Gold Project provides Duketon Mining with an opportunity to expand its gold portfolio in a cost effective and strategically valuable way.

The project is situated in a proven mining district, supported by strong historical results, yet remains undrilled and under explored. By securing an option agreement with minimal upfront costs, Duketon can apply a disciplined exploration approach focused on validating and advancing the anomaly.

This reflects the Company’s commitment to creating shareholder value through discovery-driven growth and prudent project selection.

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