Miriam Project Drilling Yields 20m @ 0.55 g/t Au at Canyon Prospect

Exploration Breakthrough at Canyon

Future Battery Minerals Ltd (ASX, FBM) has announced compelling results from the final 11 holes of its Phase 1 reverse circulation drilling at the Canyon prospect, part of the Miriam Project in Western Australia's Coolgardie region. The assays reveal strong gold anomalism within the regolith, highlighting a mineralised shear zone now termed the Miriam Shear. This discovery marks a significant step forward in the company’s gold exploration strategy.

The standout intercepts include a 20-metre section grading 0.55 grams per tonne gold from 28 metres downhole, with a higher-grade 4-metre segment at 1.60 g/t Au, alongside an 8-metre intercept at 0.78 g/t Au. These results confirm the presence of a substantial gold-bearing structure within shallow oxidised rock, which remains open for further expansion both along strike and at depth.

The Miriam Shear, A New Gold Corridor

The Miriam Shear zone extends over 6.2 kilometres through the heart of the Miriam tenure, intersecting other key prospects such as Forrest and Forrest South. Its geological setting, a shear zone at the contact between brittle metamorphosed basalts and ductile ultramafic rocks, is considered highly prospective for lode gold mineralisation. The recent drilling has successfully located this shear zone at Canyon, validating previous geophysical and geochemical interpretations.

Importantly, the shear zone’s mineralisation is not confined to the oxide regolith but is expected to extend into fresh bedrock, where gold grades could increase. The company is currently awaiting single metre assay results from the composite samples to better define the true grade and thickness of the mineralisation.

Scaling Up, Expanded Phase 2 Drilling

Buoyed by the Phase 1 success, Future Battery Minerals has expanded its upcoming Phase 2 drilling program to over 3,000 metres, doubling the initial plan. This next phase will focus on testing high-grade oxide and fresh rock extensions at Forrest, as well as further delineating the Miriam Shear at Canyon. The program also includes exploration of regional targets such as Forrest South, which has historical intercepts indicating promising gold mineralisation.

The Phase 2 drilling is scheduled to commence imminently, with assay results expected between late October and early November 2025. This accelerated timeline underscores the company’s commitment to rapidly advancing its gold exploration portfolio.

Strong Financial Position Supports Growth

Future Battery Minerals enters this next exploration phase with a robust balance sheet, holding A$6.4 million in cash and zero debt as of June 30, 2025. This financial strength provides the company with the flexibility to pursue its aggressive drilling and evaluation programs without immediate capital constraints.

Situated within the prolific Coolgardie Greenstone Belt, the Miriam Project benefits from proximity to established gold operations and infrastructure, enhancing the potential for future development. The company’s experienced management team, led by CEO Nick Rathjen, is focused on unlocking the full potential of this emerging gold system.