Mount Burgess Mining NL (ASX: MTB) has announced it has entered into binding sale agreements to acquire 100% of the Viking Gold Project and 100% of the Blair North Project, both located in Western Australia. Mount Burgess Mining is a mineral exploration company focused on developing resource projects. The acquisitions from Metal Hawk Limited (ASX: MHK) and Falcon Metals Limited (ASX: FAL) are set to significantly enhance Mount Burgess’s exposure to the gold sector, providing substantial exploration upside. The projects are consistent with the company’s three-pillar strategic plan released on 16 June 2025, in which the Board committed to advancing Kihabe–Nxuu while building the project pipeline through targeted acquisitions and partnerships.
The Viking Gold Project, located 30km east of Norseman, presents an exciting high-grade gold opportunity. Historical drillhole intersections include impressive results such as 6m @ 64 g/t Au from 50m and 4m @ 15.4 g/t Au from 40m. The Blair North Project, situated just 25km east of Kalgoorlie, is surrounded by established operations and gold deposits. Recent drilling has yielded encouraging results, including 5.9m @ 6.7 g/t Au from 244.4m and 2.5m @ 7.4 g/t Au from 255.4m.
As part of the acquisition agreements, Metal Hawk and Falcon Metals will become major shareholders in Mount Burgess. Metal Hawk will also appoint a nominee to the Mount Burgess board. To support these acquisitions and exploration activities, Mount Burgess has secured firm commitments to raise A$900,000 via an oversubscribed placement to sophisticated investors at an issue price of A$0.007 per share, representing an 18.5% premium to the 10-day VWAP.
Mount Burgess is moving forward with approvals and permitting for drilling, with plans to commence in Q4 2025. The company’s immediate focus will be commencing gold exploration on these projects to realise the potential of the underexplored tenement packages. Executive Chairman Steve Lennon expressed his delight at securing these projects, anticipating a great result for shareholders.
