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Albion Resources Limited (ASX:ALB)

ALERT: Price-sensitive ASX Announcement for ALB
Current share price for ALB : $0.060 0.004 (7.14%)+
Announcement
Release
29 Apr 2026 8:58AM
Price at Release
$0.056
Full Release
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Summary
Albion Resources Limited has announced the exercise of its option to acquire a 100% interest in the Gidgee Gold Project, located within the Gum Creek Greenstone Belt in Western Australia. The acquisition follows a comprehensive due diligence program that confirmed the project's potential for gold mineralization and identified multiple drill targets. The transaction involves a payment of A$90,000 in cash and A$150,000 in shares, with an additional A$50,000 payable upon achieving a JORC-compliant Mineral Resource milestone. Albion plans to commence drilling after receiving soil sampling results and completing heritage and access processes.
Key Points
  • Option exercised over Gidgee Gold Project
  • Located in Gum Creek Gold Belt with significant historical production
  • 12 km of major regional shear zones identified
  • Multiple drill targets with historical high-grade gold intersections
  • 1,000 soil samples completed, results expected in May
  • Acquisition includes A$90,000 cash and A$150,000 in shares
  • A$50,000 more shares upon JORC-compliant milestone
  • Drilling program planned post soil results and heritage clearance
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.