AuStar Gold Limited (ASX:AUL) and White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) refer to their joint ASX announcement of 3 February 20211 in which they advised that they had entered into a Merger Implementation Deed for the Share Scheme.
Austar Gold Ltd
AuStar Gold (ASX:AUL) is focused on building a valuable minerals inventory to generate sustainable economic production from its portfolio of advanced high-grade gold projects - with significant infrastructure including processing plant, a strategic tenement footprint, and prospectively-well positioned for near-term mining.
In addition, AuStar Gold intends to develop its adjoining tenements in the Walhalla to Jamieson gold district (particularly the prolific Woods Point Dyke Swarm) into low cost high grade gold production projects.
During the Quarter White Rock (ASX:WRM) (OTCMKTS:WRMCF) focused on completing advanced works in preparation for an aggressive 2021 field season with an exploration drill campaign in Alaska. Three drill rigs have been secured, as has supporting helicopter services, two remote accommodation camps and geophysical contractors.
AuStar Gold Limited (ASX:AUL) and White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) are pleased to advise that they have entered into a binding Merger Implementation Deed (MID), pursuant to which it is proposed that White Rock will acquire 100% of the issued share capital of AUL.
Austar Gold Limited (ASX:AUL) has completed the initial first phase of resource definition drilling to identify the geometry of the controlling dyke and identify zones of mineralisation within the dyke at the Rose of Denmark mine capable of near term accessibility.