Tambourah Metals Unveils High-Grade Gold Hits and Expands Exploration Funding

Strong Gold Results Reinforce Tambourah’s Pilbara Potential

Tambourah Metals Ltd (ASX:TMB) has delivered a compelling update for the quarter ending December 31, 2024, showcasing high-grade gold assay results from its flagship Tambourah Gold Project in the Pilbara region. The maiden diamond drilling program at Tambourah King returned standout intercepts including 32.3g/t Au over 2.65m, highlighted by an exceptional 1m interval grading 77.4g/t Au. These results confirm the presence of significant shallow high-grade mineralisation and underpin Tambourah’s strategy to extend known lode systems along strike and at depth.

The company completed an 11-hole, 1,010m RC/DD drilling campaign targeting quartz lode-style veins and granite/greenstone contacts at the World's Fair and Tambourah King prospects. Additional shallow RC drilling also intercepted promising grades such as 6m at 2.095g/t Au from 18m depth, reinforcing the potential for near-surface resource growth.

Government Support Fuels Next Phase of Exploration

Tambourah secured up to $180,000 in co-funding from the Western Australian Government’s Exploration Incentive Scheme (EIS) Round 30, enabling a planned 12-hole diamond drilling program across Tambourah King, Western Chief, and the previously untested Alexandria Prospect. Historical drilling at Alexandria has shown encouraging shallow gold intercepts, and the upcoming program aims to test extensions below these zones.

Alongside this, Tambourah’s granted tenement at the Bryah Basin Gold Project (Beatty Park South) offers a fresh exploration frontier. Historic drill results here include impressive intercepts such as 5m at 22.92g/t Au, which the company plans to follow up with targeted drilling to evaluate primary gold sources and structural controls.

Critical Minerals Exploration Gains Momentum

Beyond gold, Tambourah is advancing its critical minerals portfolio with a collaborative research initiative alongside CSIRO. This partnership leverages machine learning and hyperspectral data to identify lithium-caesium-tantalum (LCT) pegmatite targets at the Haystack Well and Shaw River projects. Recent rock sampling at Haystack Well returned lithium grades up to 1.10% Li2O, while Shaw River assays revealed tin concentrations as high as 8.69% Sn, highlighting the potential for hard rock cassiterite deposits.

The company also announced a proposed joint venture to acquire an 80% interest in the Speewah North project, subject to shareholder approval. This project is strategically located adjacent to the Speewah Fluorite deposit and hosts historic prospects with high-grade antimony rock chip samples exceeding 5%. The JV aims to unlock critical mineral resources including antimony and fluorite, commodities increasingly vital for emerging technologies.

Corporate and Financial Position

Tambourah’s financial footing remains solid with a cash balance of $2.08 million as of December 31, 2024. The company completed a placement raising $330,000 and a pro-rata entitlement offer raising $563,000, both at $0.035 per share with attached options. Exploration expenditure for the quarter was approximately $464,000, reflecting active field programs and data analysis.

Notably, the company announced director and CEO departures during the quarter, with Wayne Richards resigning as Non-Executive Director and Nic Matich stepping down as contract CEO. The board continues to oversee strategic initiatives and operational execution.

Looking Ahead

Tambourah plans to commence a new round of RC and diamond drilling at Tambourah Gold Project in March 2025, targeting down-dip and along-strike extensions of high-grade lodes. Additional programs include first-pass aircore drilling at Beatty Park South, follow-up RC drilling at Cheela Gold Project, tin sampling at Shaw River, and moving loop EM surveys at Achilles to refine drill targets. The company is also engaging potential JV partners to divest non-core assets and sharpen its focus on high-impact projects.