47.2m at 2.0 g/t Gold and 40.2 g/t Silver Confirm New Golconda Discovery

A New Chapter for Golconda

G50 Corp Limited (ASX, G50) has announced compelling results from its 2025 Phase 2 reverse circulation drilling program at the Golconda Project in Arizona, marking a significant milestone in the exploration of this historically prolific mining district. The company’s latest assays reveal a substantial new discovery of gold, silver, and zinc mineralization within the Tub Zone, a major crustal structure that hosts several notable mines in the region.

The highlight intercept comes from drill hole GRC22, which returned an impressive 47.2 meters grading 2.0 grams per tonne gold and 40.2 grams per tonne silver starting at 191 meters depth. This intercept, along with others from holes GRC21 and GRC17, confirms that the Tub Zone is both laterally and vertically continuous, with mineralization extending beyond the depth of oxidation and remaining open for further expansion.

Strategic Metals Beyond Gold and Silver

Beyond precious metals, the drilling program also confirmed significant concentrations of gallium within the alteration zones. Gallium, a critical metal used in electronics and renewable energy technologies, was found consistently across multiple holes, with grades exceeding 18 grams per tonne in some intervals. Mineralogical studies indicate that gallium is hosted in muscovite, kaolinite, and potassium-feldspar minerals, which are amenable to conventional processing techniques. This positions Golconda not only as a potential gold-silver-zinc producer but also as a strategic supplier of gallium, a metal of growing geopolitical and commercial importance.

Geological Context and Exploration Strategy

The Tub Zone, spanning approximately 3 kilometers of strike length on private land, lies within a major northwest-trending crustal structure that separates distinct Proterozoic rock types. This structure hosts several significant mineral deposits, including the Mineral Park porphyry copper-silver-molybdenum mine and historic mines such as Golconda and Big Bethel. G50’s systematic exploration approach, combining detailed surface mapping, geochemical sampling, and geophysical surveys, has been instrumental in delineating this new mineralized zone.

The 2025 drilling campaign focused on the central portion of the Tub Zone, previously untested below the oxidized zone. The program completed 26 holes, with assays reported for half so far. Encouragingly, multiple holes ended in mineralization at depths approaching 250 meters, suggesting the system remains open and potentially extensive.

Looking Ahead

G50’s Managing Director, Mark Wallace, expressed optimism about the discovery, highlighting the scale and continuity of mineralization and the strategic significance of the gallium findings. The company is awaiting the remaining assay results from the Phase 2 program and has already commenced planning for follow-up drilling to infill the current grid and test deeper extensions.

Situated in Arizona, a premier mining jurisdiction with a rich mining heritage and active development by major global miners, Golconda benefits from both geological potential and favourable regulatory conditions. G50’s discovery adds a new dimension to the project’s appeal, combining precious metals with critical strategic elements that are increasingly sought after in global markets.