Crosbie North Drilling Targets 12.1 g/t Gold and 2% Antimony Near Fosterville
Bubalus Resources has initiated a maiden drilling program at its promising Crosbie North gold-antimony project, located just 15 km from the renowned Fosterville Gold Mine. The program targets strong geophysical anomalies and high-grade surface samples, with assay results expected by November 2025.
- Maiden ~1000m drilling program underway at Crosbie North prospect
- Targets high-priority induced polarization chargeability anomalies
- Surface rock chips show up to 12.1 g/t gold and 2.02% antimony
- Project located 15 km from world-class Fosterville Gold Mine
- Further assay results anticipated in November 2025
Drilling Commences at Crosbie North
Bubalus Resources Limited (ASX – BUS) has officially commenced its maiden drilling campaign at the Crosbie North gold-antimony prospect in Victoria. This initial program, spanning approximately 1,000 metres across seven diamond drill holes, aims to test a series of compelling geophysical and geochemical targets identified through recent exploration work.
Targeting Fosterville-Style Mineralisation
The Crosbie North prospect lies just 15 kilometres from Agnico Eagle’s world-class Fosterville Gold Mine, a globally significant high-grade gold producer. Bubalus’ exploration team has identified strong induced polarization (IP) chargeability anomalies within a faulted fold system, which closely resemble the geophysical signatures associated with Fosterville’s deep gold zones. These anomalies are supported by surface rock chip samples returning up to 12.1 grams per tonne (g/t) gold and 2.02% antimony, underscoring the prospect’s potential for significant mineralisation.
Geological Context and Exploration Strategy
The targeted geological setting consists of folded and faulted metasediments, with IP survey results revealing chargeability values two to five times above background levels. This suggests the presence of sulphide minerals such as pyrite, arsenopyrite, stibnite, and pyrrhotite, which are commonly associated with gold-antimony deposits. The structural complexity, including en-echelon relay fault systems and anticlines, provides an ideal trap for mineralising fluids, mirroring the structural controls seen at Fosterville.
Looking Ahead
Bubalus’ Managing Director Brendan Borg expressed enthusiasm about the program, highlighting the quality of the targets and the geological analogies to Fosterville. The company plans to provide ongoing updates as drilling progresses, with initial assay results expected by November 2025. Success at Crosbie North could significantly enhance Bubalus’ profile in the Victorian gold province and add considerable value to its portfolio.
Broader Portfolio and Strategic Positioning
Beyond Crosbie North, Bubalus Resources holds a diverse suite of projects across Victoria, the Northern Territory, and Western Australia, including lithium, rare earth elements, and manganese prospects. This diversified exploration strategy positions Bubalus to capitalize on multiple commodity cycles while advancing high-potential gold-antimony targets in established mining regions.
Bottom Line?
As drilling unfolds, all eyes will be on Crosbie North’s assay results to gauge whether Bubalus can replicate Fosterville’s success just down the road.
Questions in the middle?
- Will the drilling confirm the presence of high-grade gold-antimony mineralisation at depth?
- How might the assay results influence Bubalus Resources’ valuation and investor interest?
- What are the next steps if the initial drilling confirms significant mineralisation?
