FBM’s Shallow Gold Intercepts at Burbanks East Highlight Exploration Risks Ahead

A Fresh Look at Burbanks East

Future Battery Minerals Ltd (ASX – FBM) has completed an extensive review of historical exploration data at its 100%-owned Burbanks East Project, located in Western Australia's prolific Goldfields region. This reassessment has uncovered six broad surface gold anomalies, including a striking 2.7-kilometre anomaly that has never been drilled before, highlighting the project's untapped potential.

The review incorporated historical Air Core and Rotary Air Blast drilling conducted by previous explorers in the late 1990s and early 2000s. These shallow drill programs returned several significant gold intercepts within the regolith, such as an 8-metre interval grading 3.37 grams per tonne (g/t) gold from 32 metres depth, and other notable intercepts including 6m at 1.84 g/t and 3m at 4.57 g/t. While these results are encouraging, the drilling was generally wide-spaced and shallow, leaving many anomalies open for further testing.

Strategic Expansion and Structural Insights

In June 2025, FBM expanded the Burbanks East footprint five-fold by staking seven additional tenements, increasing the total landholding to over 10 square kilometres. This expansion covers a 5-kilometre strike of greenstone lithologies, a geological setting known to host gold mineralisation in the region.

To better understand the underlying geology and target prospective bedrock structures, FBM is conducting a litho-structural review using compiled geophysical magnetic data. This work, expected to conclude in July 2025, aims to identify key structural controls or intrusions that could host gold mineralisation, thereby generating drill-ready targets.

Drilling Plans at Miriam and Financial Position

Complementing the Burbanks East exploration, FBM is preparing to commence an initial Reverse Circulation (RC) drill program at its nearby Miriam Project in July 2025. The drilling will focus on the Forrest and Canyon targets, both of which have demonstrated historical gold anomalies and geochemical signatures indicative of potential mineralisation. Forrest is particularly promising for near-term resource extension, while Canyon offers discovery upside.

FBM's strategic positioning near operating gold mills in Coolgardie, just 15 kilometres away, provides multiple commercial pathways for any future discoveries. The company is well-funded to execute its exploration plans, boasting a strong cash balance of A$7.4 million and zero debt as of 31 March 2025.

Outlook and Market Implications

The identification of significant shallow gold intercepts and broad anomalies at Burbanks East, combined with imminent drilling at Miriam, positions FBM as an emerging player in the Eastern Goldfields. The company's methodical approach to exploration, leveraging historical data and modern geophysical techniques, could unlock substantial value as targets are advanced.

However, the historical drilling's shallow and wide-spaced nature means that further work is essential to confirm the extent and grade continuity of mineralisation. Investors will be watching closely for the results of the litho-structural review and upcoming drilling programs to validate the project's potential.