Minerals 260 Limited has reported strong initial assay results from its maiden drilling campaign at the Bullabulling Gold Project, revealing significant gold intercepts that could extend the existing 2.3 million ounce resource, particularly at depth in the Phoenix deposit.
- 62m at 1.1g/t gold intersected in maiden drilling
- High-grade intervals up to 23.9g/t gold within broader zones
- Six drill rigs active with assays pending for 51 additional holes
- Plans for ~80,000m drilling to target resource extensions and infill
- Updated Mineral Resource Estimate expected by December 2025
Strong Start to Maiden Drilling Campaign
Minerals 260 Limited (ASX, MI6) has delivered an encouraging update from its maiden drilling program at the Bullabulling Gold Project in Western Australia. The company announced assay results from the first 19 drill holes at the Phoenix deposit, the largest within the project’s 2.3 million ounce gold resource. Notably, drillhole BBRC0015 intersected a substantial 62 metres grading 1.1 grams per tonne (g/t) gold, including several high-grade intervals such as 1 metre at 23.9 g/t. These results represent some of the thickest intercepts recorded in the project’s 35-year history, underscoring the potential for resource growth.
Extending the Depth and Confidence of Resources
The Phoenix deposit currently holds approximately 930,000 ounces at 1.1 g/t gold. The recent drilling focused on depth extensions, with the promising intercepts suggesting that the mineralisation could extend beyond the existing resource pit. Minerals 260 plans to continue testing these down-dip extensions, alongside infill drilling aimed at upgrading resource classifications from Inferred to Indicated. This strategy is designed to enhance the confidence in the resource base, which is critical for advancing towards mining studies and eventual production decisions.
Robust Drilling Program Underway
Currently, six drill rigs, four reverse circulation (RC) and two diamond core (DD), are operating on site, with assays pending for 51 additional holes. To date, 70 holes have been completed, totaling over 15,000 metres of drilling. The company’s ambitious plan includes approximately 80,000 metres of drilling throughout 2025, targeting multiple resource extension opportunities both at depth and along strike, as well as infill drilling across the project’s mineralised zones.
Strategic Location and Tenure Security
Located just 65 kilometres from the mining hub of Kalgoorlie-Boulder, Bullabulling benefits from granted mining leases and a contiguous tenement package covering roughly 570 square kilometres. The project’s tenure is secure, with no known impediments to ongoing exploration and development. Additionally, the company has established agreements for access and compensation with local stakeholders, including Norton Gold Fields Pty Ltd, further supporting operational continuity.
Looking Ahead to Resource Update
Minerals 260 is targeting a Mineral Resource Estimate update by December 2025, which will incorporate the new drilling data and underpin future mining studies. Managing Director Luke McFadyen expressed optimism about the campaign’s early results, highlighting their consistency and scale. With a significant portion of assays still pending and multiple rigs active, the market can expect a steady flow of updates as the company advances its exploration and development objectives.
Bottom Line?
As Minerals 260 pushes deeper into Bullabulling’s gold system, the coming months will be critical in defining the project’s true scale and economic potential.
Questions in the middle?
- How will pending assay results from 51 holes influence the updated resource estimate?
- What are the implications of high-grade intercepts for potential mining methods and economics?
- How might regional exploration targets beyond Phoenix contribute to Bullabulling’s resource growth?