Gold projects advance in Western Australia as REZ signs joint venture and Redcastle reports new strikes

Resources & Energy Group (REZ) has entered a binding term sheet with Rembrandt Mining to develop the Maranoa Gold Deposit in Western Australia. Under the agreement Rembrandt will fund 100% of capital expenditure, including drilling, mining and processing, while REZ retains full tenement ownership. Profits will be shared on a sliding scale, moving from a 50/50 split at $3,000 per ounce to 60/40 in REZ’s favour at gold prices above $7,000 per ounce. Operating costs are to be recovered on an open‑book basis with no markup before profit distribution.

Redcastle Resources announced further high‑grade gold assay results from its Queen Alexandra and Redcastle Reef deposits, also in Western Australia. At Redcastle Reef, assay intervals included 7 m at 4.63 g/t Au, 5 m at 3.82 g/t Au and 2 m at 4.92 g/t Au. At Queen Alexandra, results featured 3 m at 5.80 g/t Au, 11 m at 1.13 g/t Au and 5 m at 1.45 g/t Au, confirming mineralisation across the Kestrel, Hawk and Eagle Lodes. Management says the findings support a strategy of developing the two deposits together, providing a stronger revenue base for ongoing exploration and project advancement across the broader mineralised corridor.