Bubalus Resources eyes billion-dollar goldfields in Victoria—could this be Australia’s next gold rush?

Bubalus Resources Limited (ASX: BUS) has taken a significant step in its expansion strategy by acquiring an option for 100% ownership of a prime exploration portfolio within the Victorian gold projects, encompassing approximately 1,000 square kilometres. The announcement highlights a promising future for Bubalus in one of Australia’s most lucrative mining regions.

This portfolio features five granted gold exploration licences strategically situated near Australia’s high-grade gold mines, such as Agnico Eagle’s Fosterville Gold Mine and Mandalay Resources’ Costerfield Gold Mine. Both operations are recognised for their extraordinary gold mineralisation potential, making this acquisition a game-changing opportunity for Bubalus.

Proximity to world-class gold mines boosts potential

The licences, which include Crosbie and Murrindindi, boast proximity to high-grade gold mines and prospective zones. Crosbie, located just 18 km from Fosterville and 20 km from Costerfield, has already demonstrated significant gold mineralisation potential for both gold and antimony. Recent surveys conducted by Bubalus have pinpointed surface sampling results and geophysical anomalies, setting the stage for immediate exploration.

At Crosbie South, surface sampling results have yielded outcomes as high as 19.1 grams per tonne (g/t) of gold and 1.1% antimony, sparking excitement for future drill testing. Similarly, Murrindindi shows gold and antimony mineralisation, including high-grade samples containing up to 131 g/t of gold, reinforcing the portfolio’s promise.

Strategic investment underpinned by funding

To accelerate exploration, Bubalus successfully completed a placement of AUD 900,000, raising its cash reserves to AUD 3.5 million. This funding will support initial drilling programmes at Crosbie South and further geophysical surveys at Murrindindi. Bubalus aims to refine targets identified in its Victorian gold projects while ensuring compliance with environmental and land-use agreements.

The company’s addition of Brendan Borg, a seasoned geologist, to its board strengthens its ability to advance the strategic goldfields acquisition. With over 28 years of experience, Borg’s insight is pivotal to unlocking the full potential of these gold exploration licences.

Geological prospects and future work

The Crosbie licence overlays the Crosbie Granite, a Devonian intrusion closely linked to high-grade gold mines. Geophysical surveys indicate chargeable anomalies at depths exceeding 360 metres, coinciding with surface sampling results collected along the Prince Foote Trend.

Murrindindi, part of the Melbourne Zone, offers a unique opportunity due to its epizonal deposits—shallow formations critical to modern-day Australian gold exploration. These formations also show substantial promise for gold and antimony, particularly in light of global demand for antimony in energy storage solutions.

A boost for Victorian gold exploration

This strategic goldfields acquisition positions Bubalus to leverage the region’s abundant gold mineralisation potential. The company’s approach includes low-impact exploration using existing tracks, aligning with modern environmental standards while advancing Australian gold exploration efforts.

With the Victorian goldfields undergoing a resurgence, Bubalus’ option to acquire these gold exploration licences underscores its strategic foresight. By prioritising surface sampling results and refining targets, Bubalus is well-placed to establish itself as a leader in the Victorian gold projects sector.