St Barbara Compiles 44 Exploration Targets Around Proposed Canada Processing Hub Project; Shares Rise 3%

MT Newswires Live02-11 08:53

St Barbara (ASX:SBM) said it had compiled 44 exploration targets within a 75-kilometer radius of the proposed 15-Mile processing hub project in Nova Scotia, Canada, seeking to further extend the mine life beyond the 11 years currently outlined, according to a Wednesday Australian bourse filing.

Around 12 identified exploration targets also lie outside this radius. The company plans to conduct work programs during the 2026 field season from May to September, which includes reverse circulation drilling, regional surface sampling, and the incorporation of geophysics data packages into a structural review of near-ready drill targets associated with extensions to known deposits.

It acquired 34 exploration licenses for CA$400,000 covering tenure along strike from the 15-Mile, Cochrane Hill, and Touquoy deposits. It also acquired 21 exploration licenses at zero cost, either on vacant ground or dropped by de-listed junior explorers at the Tangier gold district, nine exploration licenses at Dufferin West, five exploration licenses at West Caledonia, and three exploration licenses along strike from Touquoy mine. The firm acquired five exploration licenses at Rocky Lake at zero cost.

Its shares rose 3% in recent trading on Wednesday.

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