Australia is as good as gold. The Australia continent known for its wildlife such as kangaroos, is also known as one of the top producing countries in the world. In 2021, Forbes reported that Australia has ranked third as the top producing countries, with an output of approximately 328.9 tonnes.
Canadian junior venture mineral exploration company RooGold (CSE: ROO) (OTC: JNCCF) is on the hunt in New South Wales (NSW) in search of high-grade gold. Research into the area agrees: NSW has a gold endowment (past production and identified resources) of more than 104 million ounces. This Australian state is in the initial stages of exploration with exciting new opportunities for development.
In fact, one of the world’s largest gold nuggets on record was found in NSW. That would be the Holtermann Nugget, weighing in at an impressive 10,229 ounces. It was discovered in 1872 by the German miner Bernhardt Holtermann at Hill End in New South Wales.
This is one of many reasons why RooGold is so excited about acquiring and exploring new properties in NSW. The company calls this region a “world class mining jurisdiction” and says that overall, Australia is one of the most mining-friendly regions in the world. It’s a big area to cover, yes, but has excellent local infrastructure and access.
RooGold consolidates and explores promising new properties in Australia that hold precious metals, primarily gold, but also silver, zinc, and copper. RooGold analyzes promising properties, and once it finds a “gold mine”, so to speak, it buys the property and starts the exploration that ends up with a successful mine.
“Australia is one of the top gold producers of the world,” says RooGold’s interim president and CEO, Vishal Gupta, M.Sc., a Professional Geoscientist registered with the Professional Geoscientists of Ontario. “Australia also has a well defined and structured political, economic and regulatory base cementing extremely low country risk.”
RooGold focuses on acquiring properties that are currently unexplored, which are ready for exploration. New South Wales has many small historic mines that are ready to be re-opened for the purpose of extracting gold and silver. “While many places in the world are easing COVID-19 restrictions, Australia notably has very limited restrictions,” Gupta states. “This allows us more freedom to explore the New South Wales region.”
He adds that New South Wales is proliﬁcally mineralized with multiple metallogenic belts, and that the current gold endowment exceeds 100 Moz. “These are exciting numbers to those of us in the game,” Gupta says. “Basically, this is a large area but with excellent access, that has barely been touched when it comes to drilling.”
Contact: Ryan Bilodeau
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