Saracen buys Bligh’s Bundarra project for A$8.5m in shares

Gold miner Saracen Mineral Holdings has struck a deal to buy Bligh Resources’ Bundarra gold project, in Western Australia, for a share consideration of A$8.5-million. The Bundarra project has a mineral resource of some seven-million tonnes, grading 1.9 g/t gold for 431 000 oz. The project is located some 30 km south of Saracen’s Thunderbox project and will increase the company’s mineral resource within trucking distance of the Thunderbox and Carosue Dam plants by around 5%, to 8.8-million ounces.