Wadgingarra’s Maiden Resource Opens Commercial Doors Amid Exploration Uncertainty

Maiden Resource Marks Premier1’s Commercial Debut

Premier1 Lithium Limited (ASX – PLC) has reported a maiden inferred mineral resource at its Wadgingarra gold project, part of the broader Yalgoo portfolio in Western Australia’s Murchison region. The resource totals 150,000 tonnes grading 2.7 grams per tonne gold, equating to approximately 13,000 ounces. This milestone represents Premier1’s first tangible commercial gold opportunity, setting the stage for near-term development and further exploration.

Resource Defined Within Optimised Pit Shell

The resource estimate, completed by independent consultants Snowden Optiro, is constrained within an optimised open pit shell based on a gold price of A$4,500 per ounce. Importantly, the mineralisation begins at surface and has only been tested by relatively shallow drilling averaging 46 metres depth, leaving significant upside potential along strike and at depth. The deposit remains open, suggesting that further drilling could materially increase the resource base.

Development Pathways and Commercial Partnerships

Premier1 is actively evaluating multiple development options, including toll processing arrangements within trucking distance, which could enable a low-capital expenditure pathway to production. The company is progressing metallurgical testwork and mining preparation activities, supported by a $180,000 government grant. Concurrently, joint venture discussions are underway to commercialise the resource, providing a framework to fast-track development while allowing Premier1 to focus exploration efforts on other promising targets within the Yalgoo region, such as Abbotts North.

Historical Context and Regional Prospectivity

The Wadgingarra area has a history of shallow gold mining and exploration dating back to the early 1900s, with modern drilling campaigns conducted intermittently since the 1980s. Premier1’s recent drilling has confirmed high-grade gold mineralisation consistent with historical data, validating the geological model. The mineralisation extends north beyond Premier1’s tenure into ground held by Ramelius Ltd and Firefly Resources Ltd, underscoring the strong regional prospectivity of the greenstone belt that hosts the project.

Outlook and Next Steps

With the maiden resource now established, Premier1 plans to advance further drilling to test extensions at depth and along strike, refine metallurgical characteristics, and progress environmental and heritage studies required for mining lease applications. The company’s dual focus on resource growth and commercialisation partnerships positions it well to unlock value from Wadgingarra while maintaining momentum across its broader gold and base metals portfolio in Western Australia.