Evergreen Lithium (ASX: EG1) is making what it describes as a “transformational” move with its acquisition of the Leonora Goldfields Project (LGP) in Western Australia’s prolific central gold district.
The company was previously best known for its focus on exploration activities at its highly prospective Bynoe lithium project in the Northern Territory.
Evergreen’s geology team is already following up ground work undertaken by previous groups at the LGP, with the primary focus to extend known mineralisation and enhance the current mineral resource estimate.
Emerging gold producer
Chair Simon Lill said the move marks a significant step in the company’s objective to transform into an emerging gold producer.
“Acquisition of the LGP is a pivotal moment for Evergreen, ushering in a strategic transformation as the company positions itself firmly in the burgeoning gold sector,” Mr Lill said.
“With an inferred resource of 63,000 ounces of gold and an exploration target of up to 592,000oz, the project presents exceptional development and growth opportunities.”
“Our focus now is to expedite exploration and development, ensuring pathways to production and cash flow are realised optimally.”
