Rokeby Raises $1.1M, Hits 69.5 g/t Gold in New Queensland Drilling
Rokeby Resources has completed its acquisition of Stunalara Metals, securing promising gold-copper-antimony tenements, and commenced a maiden drilling campaign at the Hurricane Project in Queensland.
- Acquisition of Stunalara Metals completed, expanding tenement portfolio
- Maiden drilling program underway at Hurricane Project targeting high-grade gold
- Rock chip sampling reveals gold grades up to 69.5 g/t Au
- Raised $1.1 million to fund drilling, with additional $380,000 post-quarter
- Early-stage geophysical work progressing at Mount Read Project in Tasmania
Strategic Acquisition and Expansion
Rokeby Resources Limited (ASX – RKB) has marked a significant milestone with the completion of its takeover of Stunalara Metals Limited, now a wholly owned subsidiary. This acquisition has substantially broadened Rokeby’s footprint across highly prospective gold, copper, and antimony tenements spanning Queensland, Western Australia, and Tasmania. The move not only diversifies Rokeby’s asset base but also positions the company to capitalize on underexplored mineral provinces.
Hurricane Project – A New Exploration Frontier
Central to Rokeby’s recent activities is the Hurricane Project in North Queensland, situated within the historically rich Hodgkinson Goldfield. The company has initiated its maiden reverse circulation (RC) drilling program targeting multiple prospects including Hurricane, Bouncer, Holmes, and Tornado. This drilling aims to delineate both high-grade lode structures and extensive gold-bearing quartz stockwork zones identified through recent mapping and sampling.
Notably, rock chip sampling at Hurricane has returned exceptional gold grades, with values reaching as high as 69.5 grams per tonne (g/t) Au. These results underscore the potential for a substantial orogenic gold system, supported by the discovery of broad mineralised zones extending beyond historical workings.
Funding and Operational Progress
To support its exploration ambitions, Rokeby successfully raised $1.1 million during the quarter, an oversubscribed placement that attracted strong institutional interest. Post-quarter, the company further bolstered its cash position by raising an additional $380,000 through option exercises. With land access agreements secured and cultural heritage surveys completed, Rokeby has mobilised its drill rig and commenced on-ground operations, signaling a transition from exploration preparation to active resource evaluation.
Broader Exploration Initiatives
Beyond Hurricane, Rokeby is advancing early-stage geophysical assessments at the Mount Read Project in Tasmania, aiming to build on historical data to refine exploration targets. The company continues to re-evaluate its existing tenements in the Northern Territory and Queensland, maintaining a broad exploration pipeline that could yield further discoveries.
Outlook and Market Position
With a cash balance of approximately $607,000 at quarter-end and ongoing exploration expenditure, Rokeby is actively managing its capital to sustain momentum. The company’s strategic acquisition and aggressive exploration program reflect a confident approach to unlocking value in underexplored gold provinces. However, the market will be keenly awaiting drilling results to validate the scale and grade of mineralisation hinted at by recent sampling.
Bottom Line?
Rokeby’s maiden drilling at Hurricane could redefine its growth trajectory, but upcoming assay results will be critical.
Questions in the middle?
- Will the maiden drilling confirm the extent and grade of the gold mineralisation at Hurricane?
- How will Rokeby manage funding beyond current cash and recent raises to sustain exploration?
- What strategic plans does Rokeby have for advancing the Mount Read Project and other tenements?
