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Evergreen Secures 'Game-Changing' Leonora Goldfields Project
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Evergreen Lithium Ltd (ASX:EG1) has initiated measures to recast itself as a rising producer by acquiring the Leonora Goldfields Project (LGP) in Western Australia.
Situated in the heart of the state's central gold region, this tenement bundle comprises 13 mining leases/prospecting licenses along with 2 at the exploration stage. Closeby lie numerous high-profile deposits such as Kin of the Hills — which holds over 4 million ounces (Moz), and the massive 6Moz Sons of Gwalia deposit.
LGP is seen as highly promising based on its present JORC resource of 63,000 ounces of gold categorized under inferred, along with an exploration potential of 592,000 ounces grading at 3.6 grams per tonne (g/t).
Historical information along with newer drilling efforts have both played roles in this development.
The initiative boasts excellent proximity to superior mining facilities, featuring four processing plants situated well within hauling distance (under 80 kilometers).
Evergreen aims to advance its exploration and development efforts with the objective of transitioning into gold production at the earliest opportunity.
EG1 has been exchanging hands at 3.9 cents.
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