Bubalus names new MD to drive Victorian gold projects

Bubalus appoints Brendan Borg as managing director
Borg will manage exploration programs across the company’s project portfolio
The company plans to hit the ground running at newly acquired gold projects in Victoria

Special report: Junior goldie Bubalus Resources has appointed Brendan Borg to the role of managing director to oversee exploration at the company’s newly optioned Victorian gold projects.

Bubalus Resources (ASX:BUS) acquired a set of exploration licences spanning 1000km2 last year, strategically located in proximity to the Fosterville, Costerfield and Sunday Creek gold mines.

The licences are prospective for gold and antimony mineralisation, with high grade rock chips collected at the Crosbie and Murrindindi licences by the vendor.

Based in Victora, Borg is ideally placed to provide local management of exploration for the collection of near-term drilling assets, as well as for the company’s broader Australian project portfolio.

He has 28 years of experience in mineral exploration, resource development, mining operations and executive management in a wide variety of mineral commodities and jurisdictions.

Resources veteran

Borg is currently a director of battery minerals explorer Kuniko (ASX:KNI) and lithium developer Leo Lithium (ASX:LLL).

He is also a director and principal consultant at Borg Geoscience, which provides geological consultancy services, conducts mineral exploration, and invests in the resources sector.

BUS chairman Alex Pismiris said Bubalus welcomes his transition from non-executive director to managing director.

“His proven leadership and extensive experience in mineral exploration, resource development and mining operations will drive Bubalus’ ambitions forward,” he said.

‘High-quality’ opportunity

Borg said the newly optioned Victorian gold projects appealed to him as a high-quality exploration opportunity to augment the company’s existing project portfolio.

“The low initial valuation and targets that are ready to drill present a compelling investment case in the current high gold price environment,” he said.

But beyond the obvious appeal of gold – the current Australian price is over $4300/oz and its outlook remains positive – there were several other reasons why the company moved to lock in the option to acquire the new assets.

“The second factor was the location of the licences and their prospectivity,” he said.

Crosbie’s location, smack bang in the middle of Fosterville and Costerfield goes to show you can actually get mines up and running in that part of Victoria, Borg previously told Stockhead.

The third and fourth points of consideration, given the the company’s experiences with its legacy projects, is land access and the readily available exploration results, conducted by previous explorers that defined geophysical and geochemical anomalies.

“So, we’ve got combined geophysical and geochemical anomalies, we have got the access to get in there and do initial drill testing on those targets,” Borg said.

“For a company like BUS, that’s important because the runway to drilling is not a long one.”

This article was developed in collaboration with Bubalus Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.