Rocky Ridge Drilling Approved as Enegex Hits 235ppb Gold Soil Anomaly at Tampia West

• Drilling approvals granted for Rocky Ridge gold prospect
• Infill soil sampling reveals gold anomalies up to 78ppb at Three Springs
• Tampia West soil sampling confirms and extends historical gold anomalies
• Ongoing reconnaissance sampling at Gutha with no significant gold yet
• Cash position steady at $1.25 million with continued exploration expenditure

Strategic Progress at Rocky Ridge

Enegex Limited (ASX, ENX) has reached a key milestone by securing all statutory government and heritage approvals necessary to begin drilling at its Rocky Ridge gold prospect, located within the Perenjori Project in Western Australia's West Yilgarn region. This approval follows a period of extensive groundwork, including a high-resolution magnetic survey that identified new prospective structures and intrusive bodies warranting further investigation.

Historical drilling at Rocky Ridge has already demonstrated encouraging gold intercepts, such as 7 meters at 2.52 grams per tonne and 7 meters at 1.14 grams per tonne, suggesting the potential for commercially viable mineralisation. The upcoming drilling campaign, planned post-2025 harvest, aims to delineate the orientation and extent of this mineralisation, potentially unlocking significant value for the company.

Soil Sampling Successes at Three Springs and Tampia West

Complementing the drilling readiness at Rocky Ridge, Enegex has reported strong soil sampling results from its Three Springs and Tampia West projects. At Three Springs, infill soil sampling has returned gold values up to 78 parts per billion across an 800 by 800-meter area, substantially above regional background levels. This anomaly remains open along strike, indicating further exploration upside.

Similarly, at Tampia West, duplicate check sampling validated a historical soil anomaly, with new results reaching 235 parts per billion gold, significantly higher than the previously recorded 151 parts per billion. Reconnaissance soil sampling is ongoing to the north and east of this anomaly, with results pending. These findings reinforce the prospectivity of Enegex’s tenure in a region known for hosting major gold and base metal deposits.

Exploration Challenges and Financial Position

While the Gutha Project has yet to yield significant gold anomalies, the company is evaluating next steps, including reconnaissance drilling, to test under-explored greenstone belts. Access to exploration sites remains dependent on landowner consent and timing around agricultural activities, but Enegex reports positive relations and support for its low-impact exploration approach.

Financially, Enegex ended the quarter with $1.25 million in cash, a slight decrease from the previous quarter, reflecting ongoing exploration and corporate costs. Director fees accounted for approximately $22,000 of expenditure during the period. The company’s disciplined approach to tenure management and cost-effective early-stage exploration underpins its strategy to unlock new gold discoveries in proven but under-explored terrains.

Looking Ahead

With drilling approvals in hand and promising geochemical anomalies identified, Enegex is poised to advance its exploration programs in the coming months. The outcomes of the planned drilling at Rocky Ridge and pending soil sampling results at Tampia West will be critical in shaping the company’s next phase of growth and investor interest.

Bottom Line?

Enegex’s imminent drilling campaign and ongoing soil sampling results set the stage for a pivotal period in its West Yilgarn exploration journey.

Questions in the middle?

• What will the initial drilling results at Rocky Ridge reveal about the scale and grade of mineralisation?
• How might pending soil sampling results at Tampia West influence exploration priorities and capital allocation?
• What strategies will Enegex employ to secure additional funding if exploration costs escalate?