May Queen Survey Reveals 400m+ Chargeability Anomaly Suggesting Sulphide Mineralisation

Geophysical Survey Advances Exploration at May Queen

Australasian Metals Limited (ASX: A8G) has reported encouraging results from a recently completed induced polarisation (IP) geophysical survey at its May Queen Gold Project in Queensland. The survey, conducted in May 2025, employed both gradient array and dipole-dipole configurations to delineate subsurface chargeability anomalies that could indicate mineralisation.

The standout feature from the survey is a pronounced chargeability anomaly extending 400-500 metres along strike, interpreted as a potential sulphide mineralisation zone or associated alteration. This anomaly exhibits significant depth extent, enhancing its prospectivity as a target for gold-copper porphyry mineralisation, a style previously suggested by the company’s maiden diamond drilling campaign in 2021.

Contextualising the Findings

The May Queen Gold Project, situated within the Brovinia goldfield approximately 375 kilometres from Brisbane, has a history of high-grade gold intercepts from both Australasian Metals and earlier explorers. Previous drilling highlighted intervals such as 6 metres at 1.99 grams per tonne gold and historic results including 26 metres at 8.37 grams per tonne gold from surface.

The recent geophysical survey was designed to refine and expand upon these earlier findings by identifying subsurface targets that warrant further drill testing. The survey results reveal a dominant north-northwest to north-south structural grain, with elevated chargeability responses concentrated in the western two-thirds of the survey area. Notably, the dipole-dipole line 7128150N confirmed a discrete, highly chargeable and low resistivity target, interpreted as a sulphide-rich zone potentially associated with gold-copper mineralisation.

Next Steps and Exploration Outlook

Australasian Metals plans to follow up these geophysical targets with detailed ground mapping and geochemical sampling to validate the anomalies before commencing drilling. Two drill holes have been proposed: one to test the prominent southern chargeability anomaly and another targeting a flatter lying northern anomaly. These steps are critical to confirming the economic potential of the identified targets and advancing the project towards resource definition.

Managing Director Dr Qingtao Zeng expressed optimism about the survey outcomes, highlighting the efficient execution of the program and its alignment with the company’s strategic exploration objectives. The integration of geophysical data with geological and geochemical information will be key to unlocking the full potential of the May Queen Gold Project.