Discovery of New Gold Lode Raises Stakes for Comet Vale Project

A New Gold Frontier at Comet Vale

Gorilla Gold Mines Ltd has revealed a compelling new chapter in its exploration story with the discovery of a high-grade gold lode north of the current Mineral Resource Estimate (MRE) at the Sovereign prospect within the Comet Vale Project. This discovery, announced on 10 February 2025, builds on earlier promising drill results and highlights the company’s successful strategy to expand its resource base in Western Australia’s prolific Goldfields region.

The standout intercept from recent drilling is a remarkable 7 metres grading 19.3 grams per tonne (g/t) gold from 49 metres depth, recorded in drill hole STEX048. This intercept surpasses previous results and confirms the presence of a continuous, near-surface gold zone extending over a strike length of approximately 200 metres and to depths of at least 150 metres. Other significant intercepts include 5 metres at 11.6 g/t Au and 4 metres at 10.1 g/t Au, underscoring the high-grade nature of this newly identified lode.

Strategic Drilling and Resource Growth

Gorilla Gold has ramped up its drilling campaign at Comet Vale, currently operating four rigs, two Reverse Circulation (RC) and two Diamond rigs, targeting both resource growth at Sovereign and exploration at nearby prospects such as Lake View. The company’s CEO, Charles Hughes, emphasized the significance of these results, stating that the drilling has “really delivered” on the potential for shallow resource growth north of the existing MRE.

Beyond Sovereign, the company is advancing its maiden Mineral Resource Estimate for the Vivien project, with all samples submitted and awaiting assay results. Meanwhile, drilling is set to commence imminently at Mulwarrie, where two RC rigs will focus on extending high-grade zones along strike and at depth. This multi-front approach reflects Gorilla Gold’s ambition to build a robust portfolio of high-quality gold resources within trucking distance of established milling infrastructure.

Historical Context and Future Potential

The Comet Vale Project has a rich history, with over 200,000 ounces of gold produced historically at grades exceeding 20 g/t. The current MRE stands at approximately 96,000 ounces at 4.8 g/t Au, indicating substantial upside given the newly discovered zones and the relatively shallow drilling coverage to date. The mineralisation is hosted within a complex shear zone system, with gold associated with quartz veins and biotite alteration, typical of orogenic gold deposits in the region.

Gorilla Gold’s exploration success at Comet Vale is particularly notable given the previous operators’ focus on rapid production, which left significant growth opportunities untapped. The company’s systematic drilling and resource development efforts are now unlocking these opportunities, positioning Comet Vale as a key asset in its portfolio.

Looking Ahead

With ongoing drilling expected to continue for several more weeks and assay results pending from numerous holes, the market can anticipate a steady flow of updates. The forthcoming updated Mineral Resource Estimate for Comet Vale will be a critical milestone, potentially reshaping the project’s valuation and development prospects. Concurrently, progress at Vivien and the upcoming Mulwarrie drilling program will further define Gorilla Gold’s growth trajectory.

In sum, Gorilla Gold’s latest drilling results at Comet Vale reinforce the company’s capacity to discover and delineate high-grade gold mineralisation in a well-endowed district. The combination of historical production, new discoveries, and active exploration bodes well for the company’s medium-term development plans.