Gorilla Gold Strikes High-Grade Gold Beyond Resource at Comet Vale

• New high-grade gold zone discovered north of current Mineral Resource Estimate
• Significant drill intercepts include 6m at 22 g/t Au and 7m at 8.2 g/t Au
• Four drill rigs active, focusing on growth and exploration at Sovereign and Lakeview prospects
• Historical production exceeds 200koz at over 20 g/t Au, with current MRE at 96koz @ 4.8 g/t Au
• Updated Mineral Resource Estimate underway following recent drilling results

Emerging Discovery at Comet Vale

Gorilla Gold Mines Ltd has announced further encouraging drilling results from its Comet Vale Project, located 97 kilometres north of Kalgoorlie in Western Australia. The latest Reverse Circulation (RC) drilling has extended a newly identified high-grade gold zone at the Sovereign prospect, situated outside and to the north of the current Mineral Resource Estimate (MRE) boundaries.

Notable intercepts from the recent drilling include 6 metres at 22 grams per tonne (g/t) gold from 70 metres depth and 7 metres at 8.2 g/t gold from 216 metres, underscoring the continuity and grade potential of this emerging lode. The mineralisation has now been delineated over a strike length of approximately 250 metres and a down-dip extent of 200 metres, with historic high-grade intercepts suggesting further mineralisation extends beyond this.

Operational Momentum and Strategic Focus

Currently, four drill rigs are operational at Comet Vale, with three dedicated to growth drilling at Sovereign and one focused on exploratory drilling at the Lakeview prospect. The company is also progressing assays from the Vivien prospect and preparing to commence drilling at Mulwarrie, indicating a multi-pronged approach to resource expansion across the project area.

CEO Charles Hughes expressed optimism about the results, highlighting the shallow, high-grade nature of the new intercepts and their significance in validating the company’s growth strategy. He emphasized the strong execution by onsite teams despite challenging summer conditions and reiterated the potential for further discoveries within the project’s underexplored zones.

Historical Context and Resource Upside

The Comet Vale Project has a rich history, with over 200,000 ounces produced at an average grade exceeding 20 g/t gold, primarily from underground operations at the Sovereign prospect. The current MRE stands at 96,000 ounces at 4.8 g/t gold, reflecting a resource base that Gorilla Gold aims to significantly grow through ongoing drilling.

The geological setting is characterised by steeply west-dipping high-grade mineralisation hosted within a major shear zone, with multiple lodes and alteration styles identified. The recent drilling results confirm the presence of high-grade mineralisation beyond previously defined resource limits, suggesting substantial upside potential.

Next Steps and Market Implications

Drilling is expected to continue for several more weeks, with numerous samples currently at laboratories awaiting assay results. An updated Mineral Resource Estimate is planned following the completion of this drilling phase, which could materially enhance the project’s resource profile.

For investors and analysts, these developments at Comet Vale reinforce Gorilla Gold’s position as a promising junior gold explorer with a clear pathway to resource growth. The combination of high-grade intercepts, strategic drilling activity, and a supportive geological framework positions the company well for future value creation.

Bottom Line?

Gorilla Gold’s expanding high-grade discovery at Comet Vale signals a pivotal growth phase, with upcoming resource updates poised to capture market attention.

Questions in the middle?

• How extensive is the newly discovered gold zone beyond current drilling coverage?
• What impact will the updated Mineral Resource Estimate have on project valuation?
• Could further discoveries at Lakeview and Vivien prospects replicate Sovereign’s high grades?