Regener8 Confirms Polymetallic Potential at East Ponton, Eyes North Achilles Next

East Ponton Drilling Validates Polymetallic Prospectivity

Regener8 Resources NL (ASX: R8R) has reported encouraging results from its maiden drilling campaign at the East Ponton project in Western Australia, confirming a polymetallic mineralising system akin to the Mulga Rocks deposit owned by Deep Yellow Ltd. The program, comprising 10 holes totaling 720 metres of aircore and slimline reverse circulation drilling, targeted the Hatlifter paleochannel-hosted nickel-cobalt-gold (Ni-Co-Au) prospect and the Grasshopper rare earth element (REE)-niobium (Nb) carbonatite target.

At Hatlifter, assays revealed broad zones of anomalous gold, nickel, and cobalt mineralisation. Notably, hole EPAC006 intercepted 15 metres at 0.25 g/t gold from 60 metres, including a higher-grade 2-metre interval at 0.53 g/t. Nickel and cobalt grades were also significant, with EPAC003 returning 5 metres at 828 ppm Ni and 468 ppm Co, including a peak metre of 1205 ppm Ni and 681 ppm Co. These results align with the polymetallic signature of the Mulga Rocks system, although nickel and cobalt grades were generally lower than historic drilling by Dominion Mining, a discrepancy that remains unexplained.

Mineralogy and Exploration Incentives Support Further Work

Petrographic studies identified millerite [(Ni, Co, Fe)S2] intergrown with framboidal pyrite as the dominant host mineral for nickel and cobalt within the paleochannel sediments, suggesting a diagenetic sulphide accumulation that could be amenable to straightforward leaching extraction methods. This mineralogical insight bolsters the exploration rationale for the Hatlifter prospect.

Regener8 was also awarded a co-funded drilling grant of up to $180,000 under the Western Australian Government’s Exploration Incentive Scheme (EIS), supporting potential follow-up drilling at East Ponton over the next 12 months. This grant underscores governmental confidence in the project’s prospectivity and provides financial leverage for advancing exploration.

Grasshopper REE-Nb Target Remains Untested

The Grasshopper carbonatite prospect, historically drilled by AngloGold Ashanti in 2013, was tested with two slimline RC holes designed to intersect magnetic anomalies interpreted as intrusive complexes. However, drilling was hampered by challenging ground conditions and failed to reach target depths or intersect the magnetic bodies responsible for the anomalies. No significant assay results were returned, leaving the REE-Nb potential at Grasshopper effectively untested and open for future investigation.

Strategic Shift to North Achilles Project

Following a comprehensive review of its portfolio, Regener8 has elected not to exercise its option on the Seven Sisters and Grasshopper tenements, instead consolidating its East Ponton tenure around the Hatlifter prospect. The company is pivoting its exploration focus to the North Achilles project in New South Wales, where tenure has recently been granted (EL9718). This project lies adjacent to Australian Gold and Copper Ltd’s (ASX: AGC) high-grade polymetallic Achilles discovery, which has delivered exceptional drill results including 5 metres at 16.9 g/t Au, 1,473 g/t Ag, and significant base metals.

North Achilles is situated along the Achilles Shear, a 15-kilometre structure interpreted as a southern extension of the Rookery Fault system that controls major polymetallic deposits in the Cobar district. The area is largely concealed by shallow Cenozoic cover, limiting historic exploration and presenting an opportunity for Regener8 to apply modern geophysical and geochemical techniques to generate drill targets. Initial work will focus on land access, stakeholder engagement, and reconnaissance sampling, with plans for magnetic and induced polarization surveys to delineate mineralisation.

Financial Position and Outlook

During the quarter ending 31 December 2024, Regener8 reported exploration and evaluation expenditure of $343,000 and operating cash outflows of $152,000. The company closed the period with $937,000 in cash and cash equivalents, sufficient to fund near-term operations as it transitions from drilling to evaluation and exploration planning at North Achilles. Payments to related parties amounted to $41,000, reflecting director fees and salaries.

With the East Ponton drilling campaign complete and the EIS grant in hand, Regener8 is well-positioned to advance its most prospective assets. The strategic shift to North Achilles aligns the company with a proven mineralised corridor and could unlock significant value if exploration success mirrors that of its neighbour AGC.