How Gorilla Gold’s 100% Comet Vale Takeover Fuels High-Grade Gold Growth
Gorilla Gold has accelerated its growth trajectory with strong drilling results at Comet Vale and Mulwarrie, alongside acquiring full ownership of Comet Vale. The company is poised for significant resource upgrades in the coming quarters.
- 100% ownership of Comet Vale Project secured for $3 million
- High-grade gold intercepts extend mineralisation at Lakeview and Mulwarrie
- Five rigs actively drilling at Comet Vale targeting resource expansion
- Maiden drilling completed at Mulwarrie ahead of Q3 resource update
- Cash position strong at $25.1 million with $7.8 million spent on exploration
Strategic Acquisition Completes Ownership of Comet Vale
Gorilla Gold Mines Ltd has taken a decisive step in consolidating its position in Western Australia's prolific goldfields by exercising its option to acquire the remaining 49% interest in the Comet Vale Project for $3 million cash. This move, completed in May 2025, gives Gorilla full ownership of a project with a rich history of high-grade gold production and substantial exploration upside.
Drilling Success at Lakeview and Mulwarrie Projects
The June quarter saw Gorilla drill an impressive 40,000 metres across multiple projects, delivering significant high-grade gold intercepts that extend known mineralisation and reveal new lode positions. At the Lakeview Prospect within Comet Vale, drilling has expanded a thick, high-grade gold system over a strike length exceeding 700 metres and 300 metres down-dip, with standout intercepts such as 24 metres at 10.3 grams per tonne gold from 200 metres depth.
Meanwhile, the Mulwarrie Project, located 60 kilometres west of Comet Vale, has seen major extensions to mineralisation with multiple parallel lodes now defined over a strike length of more than 1.3 kilometres and to depths of at least 350 metres. Highlights include intercepts like 8.2 metres at 23.5 grams per tonne gold from 217.6 metres.
Resource Growth and Upcoming Updates
Gorilla’s drilling programs are well underway, with five rigs currently active at Comet Vale; three focused on Lakeview’s extensional drilling and two targeting exploration at Silverback, Sovereign, and other prospects. The company plans a maiden Mineral Resource Estimate (MRE) for Lakeview in Q4 2025, while an updated MRE for Mulwarrie is expected in Q3 following the completion of a maiden drilling campaign.
These developments underscore Gorilla’s commitment to building a substantial high-grade gold inventory in the heart of Western Australia’s goldfields, leveraging both exploration success and strategic asset consolidation.
Financial Position and Future Outlook
At quarter-end, Gorilla held a robust cash balance of $25.1 million, having invested $7.8 million in exploration activities during the period. The company reported no mining production or development activities in the quarter, reflecting its focus on resource growth and project advancement.
Beyond Western Australia, Gorilla is also assessing growth potential at its Canadian projects in Quebec, including the Labyrinth and Denain Gold Projects, which host significant inferred resources and remain under active review.
Bottom Line?
With full control of Comet Vale and promising drilling results, Gorilla Gold is set to redefine its resource base and market position in the coming quarters.
Questions in the middle?
- How will the upcoming Mineral Resource Estimates at Lakeview and Mulwarrie impact Gorilla Gold’s valuation?
- What exploration targets beyond Lakeview and Mulwarrie could drive the next phase of growth at Comet Vale?
- How might market conditions and gold prices influence Gorilla’s development timeline and capital allocation?
