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Albion Resources Limited (ASX:ALB)

ALERT: Price-sensitive ASX Announcement for ALB
Current share price for ALB : $0.042 -0.008 (-16%)+
Announcement
Release
2 Mar 2026 8:22AM
Price at Release
$0.050
Full Release
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Summary
Albion Resources Limited announced that it has secured an option to acquire a 100% interest in the Gidgee Gold Project located in the Gum Creek Greenstone Belt, Western Australia. The project area is known for its historical gold production and contains multiple exploration targets. Albion plans to conduct further exploration to leverage the project's potential, focusing on significant historical drill intercepts. The acquisition involves a payment structure of cash and shares, with further shares contingent on achieving specified mineral resource milestones.
Key Points
  • Albion Resources Limited secures an option to acquire Gidgee Gold Project.
  • The project is located in the Gum Creek Greenstone Belt, known for gold deposits.
  • Historical drilling has shown significant gold intersections at shallow depths.
  • The acquisition includes a payment of A$90,000 in cash and shares worth A$150,000.
  • Further shares worth A$50,000 are contingent on proving a resource of 100,000 ounces of gold.
  • The company aims to complete technical and access due diligence before final commitment.
  • Strategic value includes capital-efficient entry into a known gold system.
  • The project covers 91 km² of underexplored greenstone belt with major structural controls.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.