E79 Gold's Strategic Acquisition of Cue Gold Project Signals Major Discovery Potential
E79 Gold Mines has announced a binding agreement to acquire the Cue Gold Project in Western Australia's prolific Murchison region, positioning the company for significant gold exploration upside in one of Australia's most productive gold provinces.
Immediate Access to High-Grade Gold Discovery Potential
The E79 Gold Mines Cue Gold Project spans approximately 70km² within the historic Day Dawn Goldfield, situated immediately south of Westgold's renowned Great Fingall Gold Mine, which historically produced 1.2 million ounces at an exceptional grade of 19.2 g/t gold. This strategic acquisition places E79 Gold in a premier gold district known for high-grade deposits.
"The Cue Gold Project is situated in a discovery and M&A hotspot within one of the best gold addresses in Australia. Not many junior explorers get the opportunity to secure ground with gold discovery potential like this in such a tightly-held region." – E79 Gold CEO Ned Summerhayes
Promising Historical Drill Results Ready for Follow-Up
Historical drilling across the project has already identified several promising gold prospects that have never been systematically explored with modern techniques. Key historical intercepts include:
- 13m @ 2.2g/t gold from 112-125m (EOH) at Ada gold prospect
- 20m @ 0.6g/t gold from 45-65m at Ada gold prospect
- 2m @ 4.8g/t gold from 90-92m at Chole gold prospect
- 4m @ 4.4g/t gold from 36-40m at MBA23 gold prospect
What makes these results particularly interesting is that historical drilling only tested the top 50 meters from surface on average, leaving significant potential at depth and along strike.
$3 Million Capital Raising to Accelerate Exploration
To fast-track exploration at the Cue Gold Project, E79 Gold has secured binding commitments for a $3 million placement to sophisticated investors at $0.021 per share. The capital raising will fund:
- Completion of the Cue Gold Project acquisition
- Immediate exploration activities including ground gravity surveys and target generation
- First-pass drilling at priority gold targets
- Working capital requirements
The placement will be conducted in two tranches, with director participation of $115,000 subject to shareholder approval at the company's upcoming Annual General Meeting.
Understanding Tier-1 Gold Deposit Potential
The E79 Gold Mines Cue Gold Project is prospective for high-grade quartz reef-hosted gold deposits typical of the region. These deposits, while often having relatively small footprints (typically 100-300m long and 2-10m wide), can contain exceptionally high gold grades.
The geological setting shows strong similarities to nearby major gold mines like Great Fingall, Golden Crown, and Break of Day. Gold mineralisation in the region is typically associated with northwest-trending dilational shears or fractures where they intersect rheological contrasts within specific geological units.
"The Cue Gold Project represents a highly prospective area which remains under-explored due to post-mineral cover and shallow broad-spaced drilling. It has all the ingredients to contain significant high-grade gold deposits that this part of the Murchison Province is renowned for." – E79 Gold Technical Consultant Glenn Martin
The Murchison Gold Province: A Proven High-Grade Gold District
The Murchison Province is part of the Archaean Yilgarn Craton of Western Australia, bounded by major crustal structures. The Cue Gold Project is situated within the Meekatharra-Wydgee Greenstone Belt that extends approximately 300km from Meekatharra to Mount Magnet. This belt hosts several major mining centres including Meekatharra, Cue, Big Bell and Mount Magnet.
Geologically, the region contains two major sequences known as the Luke Creek and Mount Farmer Groups, which together comprise the Murchison Supergroup. The project area covers a sequence of mafic units including dolerites and basalts, with the Great Fingall Dolerite Sill (GFD) representing a major geological feature that has intruded into a basaltic greenstone sequence (the Meekatharra formation).
Gold deposits in this region frequently occur where northwest-trending structures intersect specific geological units. While these deposits often have relatively small footprints, they can contain exceptional grades, making them highly attractive exploration targets.
Strategic Acquisition Terms and Structure
E79 Gold will acquire 90% of Cue Metals Pty Ltd, which holds the rights to the Cue Gold Project, for a total consideration of $1.2 million in E79 Gold shares. The acquisition includes:
- $300,000 in shares upon completion
- $600,000 in shares upon transfer of optioned tenements
- $300,000 in shares upon grant of owned tenements currently under application
Cue Metals' remaining 10% equity interest will be free-carried until completion of a feasibility study.
Key Board and Technical Appointments
Concurrent with the acquisition, E79 Gold is strengthening its team with two key appointments:
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Matthew Bowles will join as Non-Executive Director – Bowles was previously Managing Director of Alto Metals, which grew the nearby Sandstone Gold Project to over 1 million ounces before being acquired by Brightstar Resources.
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Glenn Martin will serve as Technical Consultant – Martin is a highly regarded geologist who previously led the team responsible for discovering the Break of Day deposit at Musgrave Minerals as Chief Geologist.
Five Priority Targets Identified
E79 Gold has already identified five priority exploration targets within the project area:
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Ada Prospect: Historical drilling returned 13m @ 2.2g/t gold from 112-125m (EOH) and 20m @ 0.6g/t gold from 45-65m, suggesting potential for a significant gold system that remains open at depth.
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Chloe Prospect: Historical drilling returned 2m @ 4.8g/t gold from 90-92m, indicating high-grade potential requiring follow-up drilling.
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Riptide Prospect: Previous drilling returned 4m @ 0.6g/t gold from 32-36m, highlighting a mineralised zone that warrants further investigation.
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Transformer Prospect: Several anomalous gold results in historical drilling suggest potential for mineralisation that requires systematic exploration.
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MBA23 Prospect: Historical drilling returned 4m @ 4.4g/t gold from 36-40m in an area mapped as Archean sediments, indicating another promising target area.
The company also sees potential for high-grade quartz reef repeats within the 3+ km long strike extension of the Great Fingall dolerite, as well as historical targets along a 6+ km strike extent of the Meekatharra Formation.
Why This Project Matters to Investors
The Cue Gold Project offers several compelling investment advantages:
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Prime Location: Positioned in a proven high-grade gold district with over 10 million ounces of historical production in the broader region
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Infrastructure Advantages: The project benefits from excellent infrastructure, including proximity to highways and multiple third-party gold processing facilities within 60km
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Underexplored Potential: Despite the rich gold endowment of the region, the project area has seen limited modern exploration, particularly beneath shallow cover
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Expert Team: The addition of personnel with specific discovery experience in the Murchison region significantly increases the odds of exploration success
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Multiple Priority Targets: Five initial priority targets provide a pipeline of drilling opportunities
Next Steps for Investors to Watch
E79 Gold plans to immediately apply modern exploration techniques to unlock the high-grade gold potential at the Cue Gold Project. The company will utilise high-resolution gravity surveys, a proven exploration technique in the region, to generate additional high-priority targets.
The company remains committed to advancing its existing Mountain Home copper-gold-bismuth and Laverton South gold projects while aggressively pursuing the new opportunities at Cue.
With this strategic acquisition, E79 Gold Mines Cue Gold Project has positioned itself as a junior explorer with significant discovery potential in one of Australia's most productive gold regions.
Ready to Tap Into Australia's Next High-Grade Gold Discovery?
With E79 Gold's strategic acquisition in the prolific Murchison region offering exposure to tier-1 gold discovery potential, now is the time to position yourself for potential investment growth. Discover how this ASX-listed junior explorer has secured ground in one of Australia's premier gold districts with immediate access to promising historical drill results and five priority targets. To learn more about E79 Gold Mines and their exciting Cue Gold Project, visit their website today for the latest investor information.
