Accelerate Resources Secures Full Ownership of Pilbara Manganese Project
Share-based deals eliminate legacy payments ahead of major drilling campaign.
1Full ownership achieved
Accelerate Resources has secured 100% control of its 432-square-kilometer Woodie Woodie North manganese project through two share-only agreements. The deals eliminate complex legacy payment structures, including potential $2M cash and 20M share obligations. This consolidation removes all future milestone payments and royalties, providing unencumbered access to the asset's full upside. The project sits 55km north of Consolidated Minerals' established Woodie Woodie manganese mine.
2Strategic transaction details
The first transaction involved issuing 25M shares to First Development Resources subsidiaries for full title to key exploration licenses. A second deal issued 30M shares to seven vendors to terminate all legacy agreements across the broader project. Both transactions use scrip consideration, preserving Accelerate's cash reserves for upcoming exploration. Shares are subject to 12-month voluntary escrow, maintaining market stability during the critical drilling phase.
3Existing resource potential
The project already hosts a maiden inferred resource of 1.2M tonnes at 19.1% manganese, with an exploration target of 5.3-10.7M tonnes at 10-19% grades. Surface sampling has yielded exceptional results up to 59.4% manganese, significantly higher than Australia's operating mines (45.5% at Woodie Woodie). The geology suggests potential extension of the neighboring mineralized system, offering discovery upside beyond current estimates.
4Upcoming drilling campaign
A 3,000-meter reverse-circulation program scheduled for October will test the Gingarrigan prospect's continuity at depth. Recent mapping identified over 200 manganese outcrops across 10 hectares, with rock chips grading up to 59.4% manganese. Success could establish a second resource area, complementing the existing 1.2M tonne resource. The program aims to convert high-grade surface mineralization into a substantial underground resource.
5Direct-shipping ore advantage
Surface grades up to 59.4% manganese meet direct-shipping ore (DSO) standards, requiring minimal processing. This compares favorably to Australia's major operating mines (45.5% and 43.6% grades). DSO capability dramatically reduces both capital and operating costs, potentially delivering superior margins. The high-grade nature of the outcrops suggests possible early production scenarios if resource definition proves successful.
6Strategic positioning
Located near established infrastructure including Consolidated Minerals' long-running mine, the project benefits from existing regional logistics. The simplified ownership structure enhances potential partnership or offtake discussions. Management highlights the project's position as a likely extension of the neighboring mineralized system, which has produced globally significant manganese volumes over decades.
7Corporate rebranding plans
Reflecting its dual manganese-gold strategy, Accelerate plans to rebrand as 'Mango Metals' (combining manganese and gold). While the Balagundi gold project near Kalgoorlie remains part of the portfolio, current focus centers on the Pilbara manganese opportunity. The rebrand signals long-term commitment to both commodities while maintaining exploration flexibility across assets.
8Value creation pathway
With legacy payments cleared, Accelerate can fully capture any discovery upside. Successful drilling could rapidly elevate the project's status given the exceptional surface grades and DSO potential. The coming months represent a critical value inflection point, with October's program testing whether surface mineralization continues at depth. Full ownership positions shareholders for maximum benefit from any positive results.