GoldArc Resources (ASX:GA8) acquires Niagara tenements to extend Leonora South Gold Project

GoldArc Resources has entered into a binding agreement to acquire the Niagara West and North tenement package from Regener8 Resources NL, extending the Company’s Leonora South landholding in Western Australia’s Kookynie Goldfields.

The acquired ground sits on a parallel trend to GoldArc’s Orion and Sapphire Mineral Resource estimate deposits and the Eclipse high grade discovery prospect.

Highlights

The Niagara West and North tenement package is located within the historic Kookynie and Niagara gold mining districts, an area that has historically produced over 500,000oz of gold at high historic grades.

The acquired package consists of eight prospecting licences, including seven granted licences and one application, all sharing the same geological setting as GoldArc’s existing Leonora South tenure.

The acquisition extends GoldArc’s Leonora South landholding north from the Orion Sapphire Mineral Resource and the Eclipse, Whistler and Woodpecker discovery prospects into the Niagara West and North tenements.

The acquired areas share the same orogenic, vein controlled gold system that controls mineralisation across GoldArc’s existing Leonora South prospects.

The Niagara West tenements include the May, Derwent, Jarrahdale, Spinaway, Kathleen and Green Bullet prospects, which are defined by historical shallow workings and two primary mineralised structural orientations.

These include east west striking structures associated with historically mined quartz vein systems and multiple NNE SSW striking structures that have been partially tested.

Historical RC drilling programs across Niagara West returned several high grade gold intersections.

Regener8 completed the first systematic modern RC drilling campaign across Niagara West in 2023, comprising 33 holes for 2,530m targeting depth extensions to historically mined gold mineralisation and newly defined soil anomaly targets.

At the May Prospect, drilling returned 5m at 3.18g/t Au from 29m, including 2m at 7.28g/t Au from 29m and 1m at 13.05g/t Au from 30m, while the Derwent Prospect returned 2m at 7.77g/t Au from 45m, including 1m at 14.8g/t Au from 45m.

GoldArc stated that gold mineralisation at Niagara West is hosted in quartz veins, consistent with the structural vein style observed at the Company’s existing Leonora South prospects, with down dip continuity demonstrated across multiple sections at the May Prospect.

GoldArc Managing Director Paul Stephen said the transaction would add further ground within the Company’s Kookynie tenure.

“The Regener8 Transaction will, on completion, fill an important gap in our Kookynie tenure. The Niagara West tenements give us high-grade discovery results to build on, and Niagara North adds a genuinely early-stage opportunity with a compelling geochemical anomaly sitting over unexplored bedrock.”

Niagara North, located approximately 3km north of Niagara West, represents the earliest stage exploration area within the acquired package, with a defined geochemical footprint and no bedrock drilling completed to date.

Previous exploration identified three gold anomalies at Niagara North, with NN1, NN2 and NN3 extending over a strike length of about 250m.

GoldArc has separately acquired tenement application P40/1622, which is situated immediately along strike of the advanced May Prospect, and the acquired tenements will be the priority focus of GoldArc’s next Leonora South exploration program.

Completion of the Regener8 transaction remains subject to conditions including shareholder approval for the issue of consideration shares, with GoldArc intending to hold an extraordinary general meeting by 30 September 2026 to seek the required approvals.

Following acquisition, the Company intends to undertake reconnaissance work including mapping, rock chip sampling, soil sampling, geochemical analysis and drill testing of the most encouraging targets.

The acquired package comprises two exploration opportunities, with high grade, open mineralisation at Niagara West and an untested bedrock target underpinned by a defined geochemical footprint at Niagara North.