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Highlights
Solara Minerals acquires gold-copper tenements in Western Australia's Murchison region
Portfolio includes ground near Sandfire's Degrussa and Catalyst's Old Highway gold deposit
Degrussa West and Wilgeena projects backed by recent electromagnetic surveys
Solara Minerals Ltd (ASX:SLA), listed on the ASX 300, has announced a significant expansion of its Western Australia exploration footprint with the acquisition of OD4 Tom Price Pty Ltd, a company holding seven exploration licences across the Murchison Region. This move secures access to gold and copper-rich areas near several operating mines and processing facilities.
The newly acquired tenements span multiple prospects, including Degrussa West, Wilgeena, Mikhaburra, and Karalundi, bringing Solara closer to established producers and infrastructure in the region. These locations lie in close proximity to notable operations run by companies such as Sandfire Resources and Westgold Resources.
Degrussa West Project Positioned Near Historic Copper-Gold Production Hub
The Degrussa West Project includes two adjoining licences that lie along strike from the high-grade Degrussa Copper-Gold Mine, operated by Sandfire Resources. The area has already shown geophysical indications of bedrock-hosted conductors that resemble those found at Degrussa.
Solara has completed a ground-based moving loop electromagnetic (MLEM) survey to refine future drill targets. The company reports that the data is being processed and interpreted, with further exploration activity anticipated once approvals are secured.
The project also benefits from nearby infrastructure and proximity to Catalyst Metals Ltd’s Old Highway Gold Deposit and Hermes gold operations.
Wilgeena Project Near Gold-Rich Neighbours
The Wilgeena tenements are located southeast of Westgold’s Peak Hill Gold Mine and within range of Catalyst Metals’ Hermes South and Hermes deposits. Past exploration included soil sampling and shallow drilling, which returned gold and copper anomalies.
Future plans at Wilgeena include follow-up surface work and reconnaissance drilling to investigate structures along strike from neighbouring deposits. The project area also benefits from its access to Westgold’s Fortnum processing facility.
Strategic Rationale and Transaction Structure
Solara Minerals will acquire full ownership of OD4 Tom Price Pty Ltd, positioning the company to consolidate its interests in a region with a long-standing reputation for mineral wealth. The acquisition is subject to final due diligence and shareholder agreements and is expected to complete by the end of July.
In addition to an initial payment, the agreement includes the issuance of Solara shares, part of which is subject to performance milestones tied to exploration results. A voluntary escrow arrangement applies to all issued shares.
Executive director Tony Rovira said the move aligns with the company’s approach to exploring and securing value-creating assets in prolific gold and copper terrains.
Additional Projects Complement Broader Murchison Strategy
The Mikhaburra and Karalundi projects further add to Solara’s footprint. These tenements lie over key geological formations known to host regional mineralisation. Historical exploration data from reverse circulation and air core drilling will be re-evaluated to refine exploration strategies.
The addition of these projects reflects a broad and diversified exploration strategy across one of Australia’s most established mining districts. With multiple advanced targets and proximity to operational mines, the company is positioned to escalate activity once technical assessments are complete.
