Bubalus Resources (ASX:BUS) reported the proposed acquisition of a portfolio of granted exploration licenses located in Victoria, which includes the Avon Plains historic gold mine, according to a Thursday Australian bourse filing.
It plans to conduct a drilling program aimed at delineating gold-bearing reef orientation, extent, and grade. A landholder access agreement is in place to allow the near-term drilling.
The mining firm will implement a broad sampling program across the remainder of the license areas targeting new discoveries and historic gold occurrences.
Its shares rose over 5% on market close on Thursday.
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