Bubalus Reports Up to 50 g/t Gold Intercepts and $2.81M Cash Reserves
Bubalus Resources has reported encouraging drilling results at its Victorian gold projects and is advancing rare earth exploration in the Northern Territory, supported by a solid cash position.
- Maiden drilling at Bubalus North and Crosbie South yields significant gold and antimony intersections
- Wilson’s Hill and Avon Plains gold projects poised for exploration in early 2026
- Nolan’s East Rare Earth Project nears final land access agreement to enable drilling
- Yinnietharra Lithium Project shows promising lithium anomalies adjacent to Delta Lithium’s holdings
- Company maintains strong cash reserves of $2.81 million to fund ongoing exploration
Exploration Momentum Builds in Victorian Goldfields
Bubalus Resources Limited (ASX, BUS) has made significant strides in its Victorian gold portfolio during the September 2025 quarter. The company commenced maiden drilling at its Bubalus North target, situated just 15 kilometres from Agnico Eagle’s renowned Fosterville Gold Mine, a world-class deposit known for its high-grade gold and antimony mineralisation.
At the Crosbie South prospect, initial drilling intersected gold in all five holes, with assays reaching up to 50 grams per tonne over narrow intervals. These results confirm the presence of high-grade mineralisation and have prompted plans for further drilling to better define the system.
Geophysical Surveys Highlight Fosterville-Style Targets
Complementing the drilling, extensive geochemical and induced polarisation (IP) geophysical surveys at Crosbie North have delineated strong chargeability anomalies within a folded and faulted metasedimentary system. These features closely resemble the structural and mineralogical characteristics of the nearby Fosterville deposit, suggesting potential for significant gold mineralisation at depth. Drilling is ongoing, with assay results expected to provide further clarity on the scale and grade of the mineralised zones.
Advancing Exploration at Wilson’s Hill and Avon Plains
Bubalus has also reviewed the Wilson’s Hill Gold Project near Bendigo, uncovering historical drilling intercepts of up to 8 metres at 23.83 grams per tonne gold. While some historical data lacks full JORC compliance, the company is preparing a low-impact exploration plan targeting drilling in the first quarter of 2026. Meanwhile, at the Avon Plains Gold Project, a historical high-grade gold mine, drilling is scheduled to commence in the fourth quarter of 2025, marking the first modern exploration effort at the site.
Rare Earth and Lithium Projects Progress
In the Northern Territory, the Nolan’s East Rare Earth Project is approaching finalisation of a land access agreement, a critical step that will allow planned drilling to proceed. This project is strategically located near Arafura Resources’ Nolans Bore deposit, known for its significant rare earth element resources. Additionally, the Yinnietharra Lithium Project in Western Australia has revealed encouraging lithium-in-soil anomalies adjacent to Delta Lithium Limited’s Malinda Prospect, indicating potential for spodumene-bearing pegmatites within Bubalus’s tenure.
Financial Position Supports Ongoing Exploration
Bubalus Resources remains well-funded with $2.81 million in cash reserves at the end of the quarter, providing a solid financial foundation to advance its diverse portfolio of gold, lithium, and rare earth projects. The company reported $289,000 in exploration expenditure during the quarter, reflecting active field programs and preparatory work across multiple projects.
Looking ahead, Bubalus plans to continue drilling at its Victorian gold targets, progress exploration at Wilson’s Hill and Avon Plains, and initiate drilling at Nolan’s East once access is secured. The company’s strategic focus on high-potential gold and critical minerals projects positions it well to capitalize on emerging opportunities in Australia’s resource sector.
Bottom Line?
Bubalus’s blend of promising drilling results and strategic project advancement sets the stage for a pivotal phase in 2026 exploration.
Questions in the middle?
- Will upcoming assay results at Crosbie North confirm a Fosterville-style gold system?
- How will the final land access agreement impact the timeline and scope of drilling at Nolan’s East?
- What exploration strategies will Bubalus deploy to validate and expand historical high-grade intercepts at Wilson’s Hill?
