Acquisition of Dingo Resources Revitalises Exploration Project Pipeline

- February 18th, 2020

Australian gold explorer Alloy Resources Limited (ASX:AYR) is pleased to advise it has entered into a binding Heads of Agreement to acquire unlisted public company Dingo Resources Limited

Strategic acquisition of unlisted Dingo Resources to revitalise Alloy’s exploration project pipeline, including:

  • Morgan Range Project targetting Nebo-Babel type Nickel-Copper deposits in West Musgrave
  • Highly prospective Bryah Basin Project targetting Copper-Gold
  • Acquisitions complementary to Alloy’s Paterson Project JV with Rio Tinto
  • Horse Well Project JV to be advanced for development and further exploration
  • General meeting of shareholders to approve acquisition of Dingo Resources to be convened

Summary

Australian gold explorer Alloy Resources Limited (ASX:AYR) (“Alloy” or “the Company”) is pleased to advise it has entered into a binding Heads of Agreement to acquire unlisted public company Dingo Resources Limited (“Dingo”).

Dingo has the right to acquire two mineral exploration projects in Western Australia which the Company believes will revitalise Alloy’s pipeline of exploration projects and offer shareholders attractive new opportunities for exploration success.

Alloy’s Executive Chairman Andy Viner said: “We have been looking for the right opportunity to revitalise the Company’s pipeline of projects and these high quality exploration plays have the potential to be ‘company makers’ for Alloy.

Through Dingo, we are pleased to be acquiring two fantastic exploration opportunities in Western Australia. To complement our JV with Rio Tinto in the Paterson, we are now purchasing a project from Rio in the West Musgrave region which has a well defined target.

In addition, we have also secured a large landholding right in the middle of Sandfire’s Bryah Basin exploration areas which has numerous early stage copper-gold targets.

This year is going to be incredibly busy for Alloy and we look forward to delivering on this huge potential for both existing shareholders and new investors.”

Click here to read the full press release.

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