Firetail Uncovers 5km Gold Trend Extension at Excelsior Project

Geophysical Breakthrough at Excelsior

Firetail Resources Limited (ASX – FTL) has announced a pivotal advancement in its exploration of the Excelsior Gold Project, located in Nevada’s prolific Walker Lane Trend. Through comprehensive re-processing and interpretation of legacy geophysical surveys; including magnetics, induced polarisation (IP), and controlled source audio magneto-telluric (CSAMT); the company has identified a substantial extension of the Buster Trend to over 5 kilometres in strike length. This is a notable increase from the previously drill-tested 1 kilometre, suggesting a much larger mineralised system than earlier understood.

Complementing this, Firetail’s analysis has confirmed the presence of a parallel structural feature dubbed the Ghost Trend. This trend has seen relatively limited historical exploration but hosts several historical shafts and rock chip anomalies, marking it as a compelling target for future fieldwork and drilling.

Field Discoveries and Sampling

In tandem with geophysical insights, Firetail’s field teams have uncovered a previously undocumented adit within the patented claim area of the Buster Trend. This adit exposes mineralisation zones approximately 2 to 3 metres wide, which have not been sampled or drilled before. Channel samples have been collected and submitted for laboratory analysis, with results pending. This discovery provides an immediate and tangible drill target within a historically productive zone.

Moreover, Firetail has completed detailed 3D underground surveying of the historical Buster and Blue Dick mines, with data processing underway. These surveys are expected to refine structural models and guide the upcoming drilling campaign.

Upcoming Drilling and Exploration Strategy

Firetail plans to commence its maiden diamond drilling program in August, contingent on the completion of the Excelsior Project acquisition. The drilling will focus on extending known high-grade gold mineralisation, which historically includes impressive intercepts such as 51.8 metres at 4.00 grams per tonne gold and 33.5 metres at 5.35 grams per tonne gold. These intercepts underscore the project’s potential to host economically significant gold deposits.

The company’s exploration approach integrates geophysical targeting with geochemical data and structural analysis, aiming to test both the expanded Buster Trend and the newly identified Ghost Trend. Intrusion-related gold targets identified through geophysical surveys will also be drill tested, potentially unlocking new mineralisation styles within the project area.

Context Within a Tier-1 Gold District

The Excelsior Gold Project sits within the Walker Lane Trend, a well-known gold-producing region with over 40 million ounces of gold mined historically. The project’s geological setting is complex, featuring multiple structural orientations and intrusive bodies that have controlled mineralisation. Firetail’s work builds on decades of exploration and mining history, combining modern geophysical techniques with fresh field data to unlock new opportunities.

Firetail’s Managing Director, Glenn Poole, emphasised the significance of these findings, noting that only a fraction of the prospective strike length has been drill tested to date. The company’s active exploration program is designed to systematically evaluate these targets and advance the project toward resource definition.