Perth-based Greenpower Energy has acquired a package of former gold mines in North Queensland in a deal with Q-Generate.
The new owner says Camel Creek, Golden Cup and Big Rush stopped operations in the 1990s when the gold price was below $US400 an ounce compared with prices above $US1400 now.
The combined mines – known as the Golden Ant gold project – produced more than 150,000 ounces of gold in their time.
Their operations were confined to shallow pit mining for heap leach production.
Greenpower, which has carried out due diligence on the sites, says the next steps will include seeking environmental approvals and carrying out drilling to update the resource.
Golden Ant consists of 11 granted mining leases and Greenpower has applied for further ground surrounding Big Rush, which is 100km south-west of the other two mines.