Minerals 260 Strikes High-Grade Gold, Boosts Bullabulling Drilling to 110,000m

Strong High-Grade Intercepts Drive Expansion

Minerals 260 Limited (ASX, MI6) has unveiled compelling assay results from its ongoing drilling campaign at the Bullabulling Gold Project in Western Australia. The latest batch of assays from 112 drill holes, totaling over 23,000 metres, has delivered some of the highest-grade gold intercepts recorded in the project’s history. Notably, the Bacchus deposit returned intervals such as 10.2 metres at 18.5 grams per tonne gold, including a remarkable 0.2 metres at 629 grams per tonne featuring visible gold.

These results have prompted the company to increase its drilling program by 30,000 metres, raising the total planned drilling to 110,000 metres. The expanded program aims to target extensions of high-grade mineralisation beneath and along strike from the current Mineral Resource Estimate (MRE), as well as to conduct infill drilling to support the upcoming Pre-Feasibility Study (PFS).

Multiple Deposits Show Growth Potential

The Bullabulling project hosts several key deposits, including Bacchus, Phoenix, Dicksons, and Kraken, each contributing to the current 2.3 million ounce gold resource. The recent drilling has confirmed continuity of mineralisation at depth along the entire 8.5-kilometre strike extent of the MRE. High-grade zones have been intersected beneath existing pit shells, suggesting potential for deeper and higher-grade mining targets.

At Phoenix, for example, infill drilling returned 12.7 metres at 7.4 grams per tonne gold, including a 1-metre intercept grading 74.6 grams per tonne. Similarly, Dicksons and Kraken deposits have shown encouraging infill and extensional results, supporting the upgrade of inferred resources to indicated status, which is critical for advancing the project’s development.

Well-Funded and On Track for Resource Update

Minerals 260’s Managing Director, Luke McFadyen, expressed confidence in the project’s prospects, highlighting the quality and consistency of the drilling results. The company currently operates seven rigs on site, four reverse circulation and three diamond drilling rigs, to efficiently advance the program.

Importantly, the additional drilling will be funded from existing cash reserves, with the company holding approximately A$54 million at the end of the June quarter. This strong financial position ensures that Minerals 260 can pursue its aggressive exploration and development timeline without immediate capital constraints.

The updated Mineral Resource Estimate, incorporating the new drilling data, is scheduled for completion by early December 2025. This update will inform the Maiden Ore Reserve and feed into the Pre-Feasibility Study, which aims to refine the project’s economic parameters and mining plan.

Exploration Upside and Strategic Positioning

Bullabulling’s location in the prolific Eastern Goldfields region, combined with its extensive tenement package and multiple prospective targets, positions Minerals 260 well for resource growth. The company’s systematic approach to testing both depth extensions and surface geochemical targets underscores a balanced strategy of resource expansion and risk management.

While the current results are promising, the company continues to investigate the geological controls on high-grade mineralisation to optimise future drilling and mining schedules. The presence of visible gold in several intercepts adds a layer of excitement, suggesting potential for selective high-value zones early in the mine life.