Bubalus Resources Launches Drilling at High-Grade Crosbie North Gold-Antimony Project
Bubalus Resources is set to begin a 1,000-metre diamond drilling program at its Crosbie North project, targeting promising gold and antimony anomalies analogous to the nearby Fosterville mine.
- Diamond drilling to commence late September 2025
- ~1,000 metres planned to test high-priority geophysical and geochemical targets
- Targets show strong induced polarization chargeability anomalies
- Rock chip samples up to 12.1 g/t gold and 2.02% antimony
- Project located 15 km from world-class Fosterville Gold Mine
Exploration Momentum Builds at Crosbie North
Bubalus Resources Limited (ASX, BUS) has announced the imminent start of a diamond drilling program at its Crosbie North gold-antimony project in Victoria. The company has contracted a diamond drill rig expected to mobilise to site by late next week, marking a significant step forward in testing the project's high-priority targets.
The planned drilling will cover approximately 1,000 metres across seven holes, focusing on a recently identified induced polarization (IP) geophysical anomaly. This anomaly, characterized by strong chargeability signals within a faulted fold system, bears a striking resemblance to the geophysical signatures seen at Agnico Eagle’s nearby Fosterville Gold Mine, located just 15 kilometres away.
Compelling Geological and Geochemical Indicators
The IP survey revealed chargeability values two to five times above background levels, interpreted to reflect quartz veining and stockwork systems often associated with gold mineralisation. Supporting these geophysical findings, surface rock chip samples have returned impressive grades, including up to 12.1 grams per tonne (g/t) gold and 2.02% antimony. These results reinforce the potential for significant mineralisation at depth.
Managing Director Brendan Borg highlighted the excitement around the project, noting that the combination of recent geophysical data and encouraging surface geochemistry provides a compelling case for rapid drill testing. The drilling program aims to validate these targets and potentially unlock a new high-grade gold-antimony system in the region.
Strategic Location and Next Steps
Crosbie North sits within the same geological terrane as Fosterville, one of Australia's most prolific gold mines, known for its high-grade turbidite-hosted gold deposits associated with sulphide minerals such as pyrite, arsenopyrite, and stibnite. The presence of similar geological structures and mineral signatures at Crosbie North adds to the project's allure.
Drilling is expected to commence in late September 2025, with initial assay results anticipated by November. Bubalus has committed to providing ongoing updates as the program progresses, which will be closely watched by investors and analysts eager to see if the geophysical and geochemical promise translates into economic mineralisation.
Beyond Crosbie North, Bubalus maintains a diversified portfolio of projects across Victoria and the Northern Territory, including lithium, manganese, and rare earths prospects, underscoring the company's broad exploration ambitions.
Bottom Line?
As Bubalus Resources drills into promising ground near Fosterville, the market awaits assay results that could redefine the project's potential.
Questions in the middle?
- Will the drilling confirm the high-grade gold-antimony mineralisation suggested by geophysical and surface sampling?
- How might positive results at Crosbie North impact Bubalus Resources’ valuation and exploration strategy?
- What are the implications for regional exploration if Crosbie North proves analogous to Fosterville?
