Mt Ida Gold Resource Grows to 752koz with 6.6Mt at 3.5g/t, Delta Lithium Reports

Exploration Update at Mt Ida

Delta Lithium Limited (ASX: DLI) has provided a detailed update on exploration activities at its 100% owned Mt Ida Gold Project in Western Australia's Eastern Goldfields. The project currently hosts a Mineral Resource Estimate (MRE) of 6.6 million tonnes at 3.5 grams per tonne (g/t) gold, equating to 752,000 ounces, with the high-grade Baldock deposit contributing the majority at 4.8Mt @ 4.4g/t for 674,000 ounces.

Recent drilling campaigns, part of a four-stage resource extension program, have delivered encouraging results that confirm continuity and potential expansion of mineralisation both along strike and down-dip. Notable intercepts include 3 meters at 18.2g/t gold from 283 meters depth and 6 meters at 13.4g/t gold from 91 meters, underscoring the project's high-grade nature.

Strategic Review and Development Pathway

Following a comprehensive strategic review completed in late 2024, Delta Lithium has resolved to continue advancing Mt Ida towards a genuine standalone scale gold operation. This decision aligns with the positive momentum in the gold market and the project's strong exploration results. Managing Director James Croser emphasized the project's value, highlighting its sizeable gold and lithium resources and the company's robust financial position to pursue development.

Mt Ida benefits from full permitting for both open pit and underground mining, with all necessary approvals in place, positioning the project for expedited development. The company is concurrently progressing metallurgical and geotechnical studies, with GR Engineering engaged to design and cost a processing plant, aiming to support a definitive feasibility study (DFS).

Ongoing Drilling and Resource Growth

Drilling operations continue with one reverse circulation (RC) rig and one diamond drill (DD) rig active on site. The current focus is on resource growth through extensional drilling around the Baldock deposit and regional targets such as the Bombay prospect, where maiden drilling has already returned promising shallow mineralisation, including 14 meters at 1.3g/t gold.

The company plans to update the gold MRE following the completion of the current drilling stages, with infill drilling to support resource conversion and underpin the upcoming feasibility study. The exploration program also targets several high-priority regional prospects, including West Nell, Jupiter, Saturn, and Unexpected, aiming to broaden the project's resource base.

Balancing Gold and Lithium Opportunities

While Mt Ida is primarily known for its gold resources, it also hosts significant lithium mineralisation, with a lithium MRE of 14.6Mt at 1.2% Li2O. Delta Lithium maintains a dual focus on both commodities, leveraging the project's unique position with granted mining leases and an approved mining proposal. This dual-commodity potential enhances the project's strategic value and offers multiple pathways for shareholder value creation.

Delta Lithium's ongoing exploration and development efforts at Mt Ida reflect a disciplined approach to unlocking value, balancing resource growth with advancing technical studies and regulatory approvals. The company’s commitment to a standalone gold operation, supported by robust drilling results and a positive strategic outlook, positions Mt Ida as a compelling asset in Western Australia's prolific goldfields.