E79 Gold Mines (ASX:E79) completes cue metals acquisition, poised for exploration

E79 Gold Mines (ASX:E79) has taken a significant step forward with the completion of its acquisition of 90% of Cue Metals Pty Ltd, a move that grants the company control over the highly prospective Cue Gold Project in Western Australia’s Murchison Gold Province.

This development sets the stage for an aggressive exploration campaign, with an initial focus on a ground gravity survey scheduled to begin in mid-December.

The acquisition also sees experienced resources executive Matthew Bowles join the board, a strategic addition that further strengthens the company’s leadership as it aims to unlock value from one of the region’s hottest gold exploration assets.

Highlights

• E79 Gold has completed the acquisition of 90% of Cue Metals, securing control of the Cue Gold Project.

• 14,285,714 fully paid shares have been issued as part of the transaction, valued at $300,000 at $0.021 per share.

• The company has mobilised for a high-resolution gravity survey, a critical step in defining gold-bearing structures in the region.

• Matthew Bowles, with over 20 years of mining industry experience, joins the board as Non-Executive Director.

The completion of the acquisition and the associated corporate changes are highly significant for E79 Gold, marking a key turning point in the company’s growth.

The Cue Gold Project, located immediately south of Westgold’s Great Fingall Gold Mine, encompasses an area of approximately 65 km² within the Murchison Goldfields.

This location places E79 Gold at the heart of a prolific gold-producing region, known for its established gold mines and the potential for new discoveries.

The project’s geological setting, particularly its favourable dolerite-hosted mineralisation, makes it an ideal candidate for exploration, and the company’s new gravity survey will help map cross-cutting faults that are known to channel mineralising fluids.

CEO Ned Summerhayes highlighted the strategic importance of the acquisition:

“It’s fantastic to get the Cue Metals acquisition completed, giving E79 Gold control over the Cue Gold Project. On-ground exploration will start immediately with a high-resolution gravity survey to commence in mid-December. This dataset is crucial to mapping the cross-cutting faults that bring mineralising fluids through the favoured host dolerite.”

Matthew Bowles’ appointment as Non-Executive Director enhances the team’s credibility, bringing a proven track record in corporate growth, mergers and acquisitions, and investor relations; expertise that will be invaluable as E79 Gold aims to drive shareholder value.

His previous success in the gold sector, particularly with Alto Metals and Indiana Resources, positions him well to lead E79 Gold through the next phases of exploration and project development.

Looking ahead, E79 Gold’s immediate focus will be on the gravity survey, expected to take six to eight weeks, which will provide the necessary data to refine its geological model and pinpoint areas of high prospectivity.

The company plans a detailed exploration program to potentially discover additional gold resources and intends to exercise an option to acquire more tenements, further strengthening its control over the Cue Gold Project and expanding its regional footprint.

In the broader context of Western Australia’s gold sector, the Murchison Goldfields remain a key area of interest, with the region’s proximity to major gold operations like Westgold’s Big Bell and Great Fingall mines providing a strong backdrop for further exploration success.

As E79 Gold progresses with its exploration strategy, the results of its upcoming surveys and drilling programs will be closely watched by investors.

In conclusion, the acquisition of Cue Metals and the appointment of Matthew Bowles position E79 Gold for a successful exploration campaign at the Cue Gold Project.

The company’s commitment to delivering results in a prime gold-producing region, backed by an experienced leadership team, lays a solid foundation for future growth.

Investors will be looking for updates on the gravity survey results and the next steps in the company’s exploration strategy, which could significantly enhance its position in the gold sector.