Crosbie South Gold Mineralisation Remains Open, Raising Exploration Stakes

Maiden Drilling Success at Crosbie South

Bubalus Resources Limited (ASX, BUS) has delivered encouraging results from its maiden drilling program at the Crosbie South prospect, located in the heart of Victoria's prolific goldfields. The initial diamond drilling campaign, comprising approximately 700 metres across five holes, has intersected high-grade gold mineralisation hosted within quartz veins and altered granite, confirming the presence of an intrusion-related gold system (IRGS).

The standout intercepts include a remarkable 0.2 metre section grading 50 grams per tonne (g/t) gold, alongside significant silver and bismuth values. Broader mineralised zones were also encountered, such as 6.6 metres at 0.4 g/t gold with elevated antimony concentrations reaching up to 3,080 parts per million (ppm). These results underscore the complex geochemical signature typical of IRGS deposits, with notable enrichments in molybdenum, tungsten, and bismuth.

Geological Context and Exploration Significance

The Crosbie South prospect lies within the Victorian Goldfields and is geologically associated with the late Devonian Crosbie Granite intrusion. The drilling results validate previous surface geochemical anomalies and geophysical targets, particularly induced polarisation (IP) anomalies, which guided the drill hole placements. Mineralisation remains open both along strike and at depth, suggesting the potential for a sizeable mineralised system.

Importantly, the mineralised quartz veins are narrow but high-grade, a characteristic that aligns with other successful IRGS deposits in the region. The presence of antimony and other pathfinder elements further supports the prospectivity of the system. The company’s technical team is now focused on refining drill targets through detailed geochemical modelling and reprocessing of geophysical data.

Next Steps and Market Implications

Bubalus Resources is planning a follow-up drilling campaign in the third quarter of 2025, aiming to expand the known mineralised zones and test new targets identified through ongoing analysis. Additional assay work on unassayed core and further geochemical surveys will support this next phase. The company’s methodical approach, including rigorous quality control and adherence to JORC reporting standards, lends credibility to these early-stage results.

For investors, these findings represent a significant step in validating the Crosbie South prospect’s potential as a high-grade gold project. While the true widths of mineralisation are yet to be conclusively determined, the combination of high-grade intercepts and associated pathfinder elements is promising. The market will be watching closely as Bubalus advances its exploration program and seeks to delineate a resource.