The new ground includes 10 square kilometres in the Western Zone and another 10 square kilometres in the Eastern Zone of the Menzies Project where the company already holds around 90 square kilometres.
Chief executive officer Christian Price said: “These latest acquisitions represent two more pieces of the highly prospective Menzies jigsaw.
“We know there is extensive high-grade mineralisation across our ground, and we have ongoing drilling programs and other exploration underway to accumulate a commercial inventory which we believe will give us several development options.”
The new acreage within the Western Zone is a continuation of highly prospective area with numerous historical workings and host to the high-grade Goodenough and Maranao historical mines.
The new ground within the Eastern Zone is an additional four-square kilometres in length of the Moriarty shear along strike of the Gigante Grande prospect where high-grade drilling hits have included 21 metres at 7.11 g/t, including 5 metres at 29 g/t.
A resource upgrade is being calculated at the Goodenough prospect following the latest round of strong results.
Drilling is also set to begin at Gigante Grande this quarter to test the immediate and regional potential of the Moriarty shear as well as follow up previous positive drilling results.