Bubalus Identifies 12.1 g/t Gold Targets Near Fosterville, Drilling Set for Q3 2025

A New Fosterville-Style Opportunity Emerges

Bubalus Resources Limited (ASX, BUS) has announced a significant breakthrough at its Crosbie North gold-antimony prospect, located just 15 kilometres from the world-renowned Fosterville Gold Mine operated by Agnico Eagle. The company’s recent Induced Polarisation (IP) geophysical survey has revealed strong chargeability anomalies that closely resemble those associated with Fosterville’s high-grade gold zones.

These geophysical signatures, interpreted as faulted fold systems, are supported by encouraging surface rock chip samples returning up to 12.1 grams per tonne (g/t) gold and 2.02% antimony. Such grades, combined with the geological setting, suggest the potential for a mineralising system analogous to Fosterville’s famed deposits.

Geophysical Insights and Geological Context

The Dipole-Dipole IP survey, completed in June 2025 by Planetary Geophysics and interpreted by Mitre Geophysics, identified chargeability features up to 25 millivolts per volt (mV/V) at depths between 130 and 440 metres. These anomalies align with folded metasedimentary rocks and structural features interpreted as anticlinal limbs and fault relays; key structural traps for gold mineralisation.

Importantly, the mineralisation style indicated by the IP data is consistent with sulphide minerals such as pyrite, pyrrhotite, arsenopyrite, and stibnite, which are known to host gold at Fosterville. The spatial correlation between geophysical anomalies and surface geochemical data further strengthens the case for a significant mineralised system beneath Crosbie North.

Drilling Plans and Strategic Implications

With these compelling targets identified, Bubalus has secured board approval for a diamond drilling program of approximately 1000 metres, planned for the third quarter of 2025. The program aims to test the high-priority IP anomalies and validate the presence of economic gold-antimony mineralisation at depth.

Managing Director Brendan Borg expressed enthusiasm about the discovery, highlighting the rapid progression from geophysical identification to drill testing. The proximity to Fosterville and the geological similarities offer a tantalising prospect for Bubalus to unlock a new high-grade gold system in the Victorian Goldfields.

Broader Portfolio and Regional Context

While Crosbie North is the immediate focus, Bubalus maintains a diverse portfolio including lithium, rare earth elements, and manganese projects across Australia’s Northern Territory and Western Australia. The company’s strategic positioning in multiple commodities could provide flexibility and resilience as it advances exploration activities.

For investors and industry watchers, the upcoming drill results at Crosbie North will be pivotal in confirming the scale and grade of mineralisation, potentially reshaping Bubalus’s valuation and exploration trajectory.