Dundas Minerals Extends Gold Zones at Baden-Powell, Uncovers New Targets at Olympia
Dundas Minerals has reported encouraging drilling results that expand gold mineralisation at its Baden-Powell deposit near Kalgoorlie, alongside promising first-pass Aircore drilling at the Olympia mining lease, signaling potential for resource growth.
- RC drilling extends gold mineralisation beyond existing 23,000 oz resource at Baden-Powell
- Notable intercepts include 12m @ 1.3g/t Au and 8m @ 1.3g/t Au with higher-grade zones
- First-pass Aircore program at Olympia returns multiple anomalous gold assays above 0.2g/t
- Dundas holds option to acquire 85% JV interest in key tenements from Horizon Minerals
- Company ends quarter with approximately $1.1 million cash, assessing further drilling plans
Baden-Powell Drilling Extends Known Gold Mineralisation
Dundas Minerals Limited (ASX: DUN) has delivered a promising update from its exploration activities near Kalgoorlie, Western Australia, with results from a 15-hole Reverse Circulation (RC) drilling program at the Baden-Powell gold deposit. The program, completed in December 2024, aimed to test extensions to the existing 23,000-ounce JORC (2012) inferred gold resource.
The assay results reveal encouraging gold intercepts, including standout intervals such as 12 metres at 1.3 grams per tonne (g/t) gold from 84 metres depth, and 8 metres at 1.3 g/t gold from 92 metres, with higher-grade zones within these intercepts reaching up to 2.5 g/t. Notably, hole 24BPRC007, drilled approximately 200 metres north of previous drilling, identified a new mineralised zone below earlier known mineralisation, suggesting the deposit remains open at depth and along strike.
First-Pass Aircore Drilling at Olympia Reveals Anomalous Gold
In parallel, Dundas completed a first-pass Aircore drilling program at the Olympia mining lease, comprising 50 holes totaling 3,519 metres. This program targeted shallow gold mineralisation along a key geological contact between Mt Ellis Gabbro and Bent Tree Basalt. Results included eight holes returning anomalous gold assays above 0.2 g/t, with the best intercepts being 4 metres at 0.82 g/t from 100 metres depth and 1 metre at 0.8 g/t from 80 metres.
The anomalous gold is spatially associated with a shale-basalt contact zone exhibiting quartz veining and alteration indicative of a hydrothermal mineralising system. These findings highlight the potential for further exploration along strike and at depth within the Olympia tenement.
Strategic Position and Future Exploration Plans
Dundas holds an option to acquire an 85% joint venture interest in the Baden-Powell and Olympia tenements from Horizon Minerals Limited (ASX: HRZ), with the option exercisable within nine months following the grant of a key mining lease application. This strategic relationship positions Dundas to potentially consolidate significant gold resources in the prolific Kalgoorlie region.
With the current Mineral Resource estimate at Baden-Powell standing at 23,000 ounces, the recent drilling results suggest meaningful potential to expand this resource. The company notes that most previous drilling has been shallow, with only a small fraction extending beyond 150 metres, leaving open the possibility of deeper mineralisation.
Financially, Dundas ended the quarter with approximately $1.1 million in cash, providing a runway to assess and potentially undertake further drilling programs. The company is currently evaluating the Aircore results to determine the scope of follow-up drilling, including possible deeper RC programs at Olympia.
Technical and Governance Notes
The drilling and sampling programs adhered to industry best practices, with quality control measures including certified reference materials and independent verification by qualified geoscientists. The company confirms no material changes to previously reported Mineral Resource assumptions and maintains compliance with ASX Listing Rules and JORC Code reporting standards.
Bottom Line?
Dundas Minerals’ latest drilling results reinforce the prospectivity of its Kalgoorlie projects, setting the stage for resource growth and strategic JV decisions in the coming months.
Questions in the middle?
- Will follow-up drilling at Baden-Powell confirm a significant resource upgrade beyond the current 23,000 ounces?
- How will Dundas prioritise further exploration at Olympia given the early-stage anomalous gold results?
- What are the implications of the JV option timeline with Horizon Minerals for Dundas’ near-term development plans?