Metal Bank Limited (ASX:MBK) has completed its due diligence for the acquisition of Hastings Technology Metals Ltd (ASX:HAS) gold assets. Metal Bank Limited is focused on advancing battery metal projects, primarily copper and lithium, whilst seeking to generate value from its portfolio of gold projects. The company’s move to acquire the HAS gold assets signals a strategic expansion of its Western Australian gold portfolio.
Under the proposed acquisition, MBK is set to acquire Great Western Gold Pty Ltd, the holder of a 75% interest in the Whiteheads Gold Project JV tenements, Ark Gold Pty Ltd, the holder of the Ark gold project, and the Darcy’s gold project. HAS has allocated $500,000 to advance the Whiteheads project while the MBK acquisition proceeds through regulatory phases.
Drilling at the Seven Leaders prospect within the Whiteheads project has commenced on September 22, 2025. This follows the completion of a heritage survey by HAS at the Seven Leaders prospect, ensuring all necessary approvals are in place. The initial drill plan consists of approximately 1,500m of RC drilling to confirm historical drill data and a geotechnical diamond core hole for pit design. The drill program, including the diamond hole, is expected to take approximately two weeks to complete.
MBK’s Chair Ines Scotland commented that HAS is working full-steam ahead on advancing the Whiteheads Gold Project. Tim Gilbert, who will become MBK’s CEO post the completion of the transaction is managing the approvals and upcoming drill program. Upon completion of drilling and subsequent drill hole assays, HAS intends to announce an initial Resource on the Seven Leaders project, proceeding to mining lease application and submission of the Mining Proposal.
