eMetals Reports 187ppb Gold Soil Anomaly Over 300m at Busia
eMetals Limited has completed initial soil sampling at its Busia Gold Project in Uganda, revealing a significant 300-meter-wide gold-in-soil anomaly. The company continues to advance exploration efforts across its Ugandan assets while negotiating land access for further work.
- Initial soil sampling completed at Busia Gold Project with 133 soil and 3 rock chip samples
- 300-meter-wide gold-in-soil anomaly identified with values up to 187ppb gold
- Busia license covers over 9km strike of banded ironstone formation
- Ongoing land access negotiations to enable further exploration
- Mubende Gold Project discussions underway for potential partnerships
Exploration Progress at Busia
eMetals Limited (ASX, EMT) has reported encouraging results from its June 2025 quarterly activities, highlighting the completion of an initial soil sampling campaign at the Busia Gold Project in eastern Uganda. The campaign, which collected 133 soil samples and 3 rock chip samples over a 3.5-kilometre strike length, has delineated a substantial 300-meter-wide gold-in-soil anomaly with values reaching up to 187 parts per billion (ppb) gold.
The Busia Project sits within the highly prospective Busia Greenstone Belt, a geological setting known for hosting significant gold deposits. The license area features a prominent banded ironstone formation (BIF) extending over 9 kilometres, flanked by metavolcanic rocks. The soil sampling results suggest that gold mineralisation is structurally controlled, with anomalies aligned along north-south trending fault systems rather than the northeast trending BIF itself.
Strategic Positioning in Uganda
eMetals holds an 80% interest in the Busia Project through its acquisition of Sifang Mineral Resources Limited in 2024. The company is also advancing exploration at the Mubende Gold Project, a larger 202 square kilometre landholding in central Uganda. At Mubende, ongoing artisanal mining activity at the Bukuya prospect underscores the potential for significant gold mineralisation, with soil sampling indicating a gold-in-soil anomaly extending over 1.2 kilometres.
Importantly, eMetals is engaging with neighbouring landholders and license holders to explore potential partnerships for the Mubende project, aiming to expand its footprint and accelerate exploration efforts. These discussions remain preliminary and non-binding but could be pivotal in unlocking further value.
Operational and Financial Overview
During the quarter, eMetals incurred $69,000 in exploration expenditure, focused primarily on the Ugandan projects. No mining production or development activities were reported, reflecting the early-stage nature of these assets. The company ended the quarter with a healthy cash balance of $2.765 million, providing a solid financial base to support ongoing exploration and land access negotiations, particularly with the National Forest Authority to access restricted areas within the Busia license.
Meanwhile, the Salmon Gums Project in Western Australia saw no activity during the quarter, as the company prioritises its African gold exploration strategy. Payments to related parties amounted to $64,000, covering director fees and administrative services.
Looking Ahead
With promising early-stage results at Busia and active engagement on Mubende, eMetals is positioning itself to capitalise on Uganda’s emerging gold exploration landscape. The company’s next steps will likely focus on securing land access, expanding soil sampling campaigns, and advancing partnership discussions to unlock the full potential of its gold projects.
Bottom Line?
eMetals’ early gold anomalies in Uganda set the stage for a pivotal exploration phase, with land access and partnerships key to unlocking value.
Questions in the middle?
- Will eMetals secure access to the National Forest Authority lands to expand Busia exploration?
- What are the timelines and terms for potential partnerships at the Mubende Gold Project?
- When can investors expect detailed assay results and follow-up drilling plans from Busia?
