Premier1’s Yalgoo Drilling Marks Key Step Amid Pending Assay Results and Exploration Risks

Premier1 Lithium Advances Exploration at Yalgoo

Premier1 Lithium Limited (ASX: PLC) has marked a significant milestone with the completion of its first major reverse circulation (RC) drilling program at the Yalgoo Gold Project since the late 1980s. The company drilled 27 holes for a total of 3,126 metres across the Wadgingarra area, targeting high-grade gold mineralisation at key prospects including Crescent East, Olive Queen, and Carlisle.

This drilling campaign follows a robust surface sampling program that returned impressive rock chip assays, including standout grades of 128.5 grams per tonne (g/t) gold at Crescent East and 106.6 g/t at Bourkes United. These results confirm the strong gold prospectivity of the region and validate Premier1’s strategic focus on systematic exploration within underexplored greenstone belts of Western Australia.

Expanding the Gold Portfolio with New Targets

Beyond Yalgoo, Premier1 has identified additional high-priority targets at the Mt Kersey and Central Block prospects. Litho-geochemical sampling at Mt Kersey yielded high-grade rock chip results up to 26.4 g/t Au, adjacent to historical workings, suggesting potential for significant mineralisation. The Central Block prospect also emerged as prospective for volcanogenic massive sulphide (VHMS) style mineralisation, supported by coincident gold-in-soil and base metal anomalies.

Meanwhile, the Abbotts North Project, located approximately 35 kilometres north of Meekatharra in the Murchison region, has shown promising signs of becoming a valuable second gold asset. First-pass rock chip sampling returned encouraging gold grades up to 6.7 g/t in previously untested areas, highlighting the potential for new discoveries in this underexplored greenstone belt.

Operational and Financial Overview

Premier1’s exploration activities during the quarter were supported by a disciplined and data-driven approach, with ongoing environmental and heritage approvals facilitating ground access and drill pad construction. The company spent approximately $371,000 on exploration and evaluation, with no substantive mining or production activities reported.

Financially, Premier1 ended the quarter with $1.66 million in cash and equivalents, providing a solid runway for continued exploration. Payments to related parties, including director remuneration, amounted to $103,000 during the period.

Looking Ahead: Assay Results and Next Steps

Assay results from the recently completed Yalgoo drilling program are expected imminently and will be critical in guiding the next phase of exploration. Premier1 plans to refine its structural interpretation and target models based on these results, with follow-up drilling aimed at defining mineralisation continuity along strike and at depth.

At Abbotts North, the company intends to advance regional mapping, infill sampling, and geophysical surveys to better understand the gold mineralisation architecture and prioritise drill targets. The combination of high-grade surface results and strategic exploration positions Premier1 Lithium as a company to watch in Western Australia’s gold exploration landscape.