GoldArc Resources Limited has secured approval for its Mining Development and Closure Proposal covering the Leonora North - Mt Stirling and Mt Stirling Well deposits from the Department of Mines, Petroleum and Exploration. The regulatory clearance removes the final procedural barrier to mining operations at the project in Western Australia.

GoldArc and development partner BML Ventures Pty Ltd will now progress planning for site activities. The Leonora North project is funded by BML Ventures under a 50/50 net profit-share Project Sale and Mining Agreement, under which BML Ventures has financed the 34,000-metre grade control reverse circulation program. This structure allows GoldArc shareholders to retain full exposure to project economics without a corresponding funding obligation.

“Receiving MDCP approval for Mt Stirling is the milestone our shareholders have been waiting for. It converts nine rounds of grade control drilling into an approved, shovel-ready development plan. With our latest 6,600m RC program scheduled to commence in the next couple of weeks we are excited to get back to growing our resource base with targets both parallel to and along strike from the existing resources.”

— Paul Stephen, Managing Director

The Department of Mines, Petroleum and Exploration approval consolidates mining proposal and closure planning requirements into a single approved document. Operating activities remain supported by ongoing technical work across the wider portfolio, following an 11,000-metre aircore drilling program completed at the Yttria prospect in July 2026 that identified in-situ gold mineralisation outside the company's existing 200,000-ounce JORC resource base.

Detailed mine scheduling depends on upcoming analytical results, with final grade control assays expected within two weeks of August 2026. A 6,600-metre reverse circulation drilling program is scheduled to start within the same timeframe to test targets parallel to and along strike from existing resources.

Read the full announcement: GoldArc Secures MDCP Approval - Clearing Path to Development