Golden Grove’s Future Hinges on 29Metals’ Latest High-Grade Drill Results

Exploration Success at Golden Grove

29Metals Limited has released a series of high-grade copper and zinc drill intercepts from its 2025 exploration campaign at the Golden Grove mine in Western Australia. The results, derived from resource extension and conversion drilling across multiple deposits including Tryall, Oizon, Europa, and Cervantes, underscore the potential to extend the mine life of existing deposits and expand mineral resources.

The drilling program, which has seen a significant budget increase to between $10 million and $14 million this year; up from $4 million in 2024; reflects the company’s commitment to unlocking further value from Golden Grove’s underground infrastructure. These results are not yet incorporated into the company’s December 2024 Mineral Resources and Ore Reserves estimates, with an update expected in the March 2025 quarter.

Key Drill Highlights

At the Tryall deposit, resource extension drilling intercepted notable intervals such as 12.3 meters grading 2.8% copper, 1.4 grams per tonne gold, and 17 grams per tonne silver, including a high-grade zone of 3.3 meters at 9.2% copper. Similarly, Oizon drilling revealed broad zones of copper mineralisation, including 14.6 meters at 2.6% copper with a high-grade section of 7 meters at 4.9% copper.

Europa’s resource extension drilling returned a significant 30.3-meter intercept at 2.2% copper, while Cervantes showed promising zinc and copper mineralisation along strike to the north of current resource estimates, including a 48.2-meter intercept grading 2.4% copper and 8.8% zinc. Resource conversion drilling at Cervantes confirmed high-grade zones with an 80.4-meter intercept at 3.9% copper.

Strategic Implications and Future Work

Chief Executive Officer James Palmer highlighted that many of the high-grade results are located in accessible areas of Gossan Hill, offering opportunities to leverage existing underground infrastructure and add flexibility to the mine’s life of plan. The ongoing drill program has approximately 21,000 meters of drilling remaining, targeting priority areas to further delineate and expand mineral resources.

Near mine exploration at North Xantho did not intersect significant mineralisation, but further geophysical and geochemical assessments are planned for 2026. The company’s methodical approach, adhering to the JORC Code and employing rigorous sampling and assay protocols, ensures the reliability of these findings.

With the next Mineral Resources and Ore Reserves update scheduled for March 2025, the market will be watching closely to see how these promising drill results translate into resource growth and operational longevity at Golden Grove.