Here’s the important small cap gold news from Marmota (ASX:MEU), Matador (ASX:MZZ), Ausmex (ASX:AMG) and Twenty Seven Co (ASX:TSC). 
But first — Northern Star Resources will become new joint owner of  Kalgoorlie’s massive hole-in-ground, the Super Pit, with fellow miner Saracen.

Northern Star Resources (ASX:NST) will grab half of  the KCGM Super Pit in WA’s Goldfields in a deal valued at $US800m ($1.2 billion).

The major miner will pick up the 50 per cent stake in Kalgoorlie Consolidated Gold Mines (KCGM) by buying its owner Kalgoorlie Lake View Pty Ltd (KLV) from parent company Newmont Goldcorp  for US$775m.

Newmont Goldcorp will package in some additional KCGM-managed operations and assets for an extra $US25m.

Fellow Eric Sprott favourite Saracen Mineral Holdings (ASX:SAR) owns the other half of KCGM, an upside the $6.3 billion market cap Northern Star bigged up today.

Northern Star executive chairman Bill Beament said the buy would create significant value with a partner with an “outstanding track record.”

“As well as being accretive across all key metrics, including earnings per share, this acquisition comes with huge upside due to the combination of the world-class nature of the gold system and the respective skill sets of Northern Star and Saracen,” he said of $3.3b company Saracen and the deal.

The Super Pit mine  features about 80 million ounces of gold grading a standout 45,000 to 60,000 ounces a vertical metre.

There’s another 7.3 million ounces of reserves and 11.7 million ounces in the deal not defined under the JORC code, putting mine life in a ballpark 13 years.

The acquisition price per ounce is $US140 a resource ounce, with the ticket price including a $US25m option over all Newmont’s power assets for the JV.


In other ASX mining news today:

Marmota (ASX:MEU) drillers have packed up for Christmas after drilling 3068m at Aurora Tank gold project. The team will wait for assay results that will include the project’s Two Fingers zone and NW flank drilling before returning to site in late-January 2020 to drill another 1932 metres with reverse circulation drilling equipment.

READ: Detailed hits of 120g/t paint golden picture for Marmota


Matador Mining’s (ASX:MZZ) Window Glass Hill deposit could become a key part of the company’s Cape Ray gold project in Newfoundland, Canada. The shallow deposit now boasts a 1.2km-long strike that’s also open ended – meaning potential extensions are possible down the track.


Dampier Gold (ASX:DAU) and has pushed out a deadline for its assessment of potential joint venture deal with Torian Resources (ASX:TNR) for the Credo Well gold project. Dampier will carry on with due diligence assessment work over the coming weeks with a view to wrapping it up by Monday, January 6, 2020.


Ausmex (ASX:AMG) will also push out a deadline to January 2020, reporting today it had taken a $100,000 extension fee from its potential Gilded Rose gold project buyer Jin Resources (HK). The $2.3m sell-off its now due by January 28, 2020 and features a $500,000 follow-up payment by December 6, 2020 and another $1m if Jin produces 10,000 gold ounces.

READ: Matt Morgan on how Ausmex plans to hit those deep, company-making IOCG targets


Twenty Seven Co (ASX:TSC) has wrapped up first-time drilling at its very Creasy Rover gold project in WA’s Goldfields. Samples are due soon for the project which includes two prospects named for prospector Mark Creasy. The prospects include Creasy 1 which has already featured standout grades of 20.1 grams per tonne gold over a 3m stretch just 51m below surface.