viewWalcott Resources Ltd

Canadian explorers look to opportunities in Australia as gold, silver and base metal prices stay strong

British Columbia-based Walcott Resources recently closed the acquisition of a 60% interest in two Australian projects - Tyr Silver Project in New South Wales and Century South Silver-Zinc Project in Queensland.

Walcott Resources Ltd - Canadian explorers look to opportunities in Australia as gold, silver and base metal prices stay strong
Novo Resources Corp is transitioning to become Australia’s next junior gold producer.

The mineral exploration and development space in Australia has recently seen a spike in investments from Canadian companies as the price of gold, silver and base metals continues to stay strong.

Australia is viewed as a well-regulated, stable jurisdiction for exploring and developing mining projects and has been relatively successful in containing the spread of COVID-19.

The sector has witnessed a steady flow of investments from established and emerging Canadian companies including Walcott Resources, Novo Resources Corp, Fosterville South Exploration, First Energy Metals and Graphite Energy Corp.

Walcott Resources

British Columbia-based Walcott Resources Ltd (CNSX:WAL) (OTCMKTS:WALRF) (FRA:WR2) recently closed the acquisition of a 60% interest in two Australian projects - Tyr Silver Project in New South Wales and Century South Silver-Zinc Project in Queensland.

This acquisition will provide Walcott with an interest in the two highly prospective silver projects at a time of encouraging silver market fundamentals.

Tyr Silver Project in northern New South Wales covers around 300 square kilometres and has two historical silver mines - Burra and Torny - with potential for high-grade silver zinc-lead-tin mineralisation.

Century South Silver-Zinc Project, in the Mt Isa Basin of northwest Queensland, is under-explored but in a highly prospective region and along strike from one of the world's largest silver-zinc mines.

Novo Resources

Novo Resources Corp (CVE:NVO) (OTCMKTS:NSRPF) is an early mover which is transitioning to become Australia’s next junior gold producer via production at its Beatons Creek Project in Pilbara, WA.

This will enable Novo to progress its broader organic exploration on its numerous other gold projects across the company’s 13,750 square kilometre Pilbara tenure.

Development activities have already commenced at Beatons Creek with a plant refurbishment contract awarded to GR Engineering Services (ASX:GNG) for A$8.3 million to refurbish existing processing infrastructure.

Fosterville South Exploration

Last week, Fosterville South Exploration Ltd (CVE:FSX) (OTCMKTS:FSXLF) (FRA:4TU) acquired the Baynton exploration license adjoining the south eastern border of Kirkland Lake Gold Ltd’s (TSE:KL) Fosterville Gold Mine tenements in Victoria.

Fosterville South already has two large, 100% owned, high-grade epizonal gold projects called the Lauriston and Golden Mountain Projects, a large group of tenement applications called the Providence Project and a large group of recently consolidated tenement applications called the Walhalla Belt Project, all in Victoria.

First Energy Metals

Canadian mineral explorer First Energy Metals Ltd (CNSX:FE) recently entered into a letter agreement to acquire gold projects in New South Wales and the Northern Territory.

The Dalmorton Gold Project, in northern New South Wates, is relatively advanced as a shallow inferred resource has already been modelled.

A high-level exploration plan has already been mapped out which includes expedited field trips to refine targets for an inaugural drilling campaign.

First Energy will also acquire two contiguous Northern Territory projects – Viserion & Rhaegal –in the Tennant Creek region which is known for gold occurrences in sedimentary units, breccia fill and multi-vein style systems

All projects are located near supportive mining communities, with well-established infrastructure and road/rail networks to nearby ports.

Graphite Energy Corp

Graphite Energy Corp (CNSX:GRE.X) (OTCMKTS:GRXXF) (FRA:G0A1) is acquiring a highly prospective large land package comprising five distinct projects within the Pilbara Gold District in Western Australia and is planning to change its name to Australian Goldfields Ltd.

Earlier this month, the company raised $300,000 via a non-brokered private placement to fund the acquisition of the Beatons River, Cuprite West & East, Tyche, Fortuna and Nortia projects.

The proposed acquisition of the projects offers a sizeable prospective gold footprint across the Pilbara region, which has a history of significant iron ore production.

However recent high-profile gold discoveries have focused new attention on the region which has a highly developed supportive mining infrastructure, with excellent transport networks to key ports.

Quick facts: Walcott Resources Ltd


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