Maiden Drilling at Yalgoo Yields 31.5g/t Gold Intercept, Expands Prospects

• Maiden RC drilling confirms high-grade gold at Carlisle and Crescent South prospects
• Yalgoo project covers over 260km of prospective greenstone belt near established mines
• $180,000 EIS grant supports ongoing exploration and target testing
• Premier1 holds rights to earn up to 70% interest in Yalgoo mineral rights
• Board and management bring deep resources sector expertise

Exploration Breakthroughs in Yalgoo

Premier1 Lithium Ltd has delivered a significant update on its exploration activities across Western Australia’s greenstone belts, focusing on the Yalgoo and Abbotts North projects. The company’s maiden reverse circulation (RC) drilling program at Yalgoo has confirmed high-grade gold mineralisation at multiple prospects, notably Carlisle and Crescent South, with intercepts such as 10 metres at 3.1 grams per tonne gold and a standout 3 metres at 31.5 grams per tonne.

These results validate Premier1’s exploration model and reveal multiple untested structural targets, suggesting considerable potential for resource expansion. The Yalgoo project tenure spans over 260 kilometres of greenstone belt, including parts of the Yalgoo-Singleton belt, which hosts established mines like Deflector and Golden Grove. This strategic positioning near existing processing infrastructure enhances the project’s development prospects.

Strategic Support and Project Potential

Supporting the exploration momentum, Premier1 secured a $180,000 Exploration Incentive Scheme (EIS) grant to advance testing of new targets. The company’s rights to earn up to a 70% interest in mineral rights at Yalgoo (excluding rare earth elements) provide a strong foundation for future growth. Complementing the drilling success, detailed litho-structural studies and geochemical surveys have identified high-priority targets such as Mount Kersey and Central Block, with rock chip assays returning gold grades as high as 26.4 grams per tonne.

Meanwhile, the Abbotts North project, situated along a prolific greenstone belt with nearby deposits like Ora Gold’s Garden Gully and New Murchison’s Crown Prince, has yielded encouraging rock chip assay results. These findings confirm the presence of gold mineralisation across multiple prospects, reinforcing the area’s exploration appeal.

Experienced Leadership Driving Growth

Premier1’s board and management team bring extensive expertise in resource exploration and development. Managing Director Jason Froud, with over 25 years in the sector including roles at Newcrest and Liontown Resources, leads the technical strategy. Non-Executive Chairman Hugh Thomas offers deep commercial and operational experience, having held senior roles in natural resources investment banking across Asia Pacific. Exploration Manager Paul Smith and Non-Executive Director Anja Ehser further strengthen the team’s capability with their backgrounds in geology and project management.

The company is also actively reviewing acquisition opportunities to complement its existing portfolio, signaling a strategic approach to growth beyond organic exploration.

Looking Ahead

Premier1 plans follow-up RC drilling to extend high-grade mineralisation zones identified in the maiden program, alongside geophysical surveys and surface sampling to refine target areas. The integrated exploration approach aims to unlock the full potential of these underexplored greenstone belts, positioning Premier1 as a notable player in Western Australia’s gold exploration landscape.

Bottom Line?

Premier1’s early drilling success sets the stage for a pivotal phase of exploration that could reshape its resource profile and market standing.

Questions in the middle?

• How will upcoming drilling programs expand the known mineralisation at Carlisle and Crescent South?
• What impact could Premier1’s potential 70% stake in Yalgoo mineral rights have on its valuation?
• Which acquisition targets is Premier1 considering to accelerate its growth strategy?