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Mining company Red Rock Resources said its Australian joint venture with Power Metal Resources had applied for the three new gold exploration licenses in Victoria state.
The licenses amounted to an additional exploration area of 581 square kilometers.
'There is no area of the licenses that does not have evidence of gold mineralisation and in most cases recorded production from previous alluvial workings, leads, shafts or drilling,' chairman Andrew Bell said.
Red Rock owned 50.9% and the venture and Power Metal 49.9%.
At 1:50pm:
(LON:POW) share price was +0.03p at 0.3p
(LON:RRR) Red Rock Resources PLC share price was 0p at 0.28p