Future Battery Minerals Ltd reports significant gold intercepts from its Miriam Project drilling and advances exploration at Burbanks East, while securing an option to acquire the Randalls Gold Project, reinforcing its position in Western Australia’s goldfields.
- Phase 1 and 2 drilling at Miriam delivers thick, high-grade gold intercepts
- Discovery of a 6.2 km mineralised Miriam Shear zone with open extensions
- Identification of broad gold anomalies and structural targets at Burbanks East
- Signed exclusive six-month option to acquire Randalls Gold Project
- Strong cash position of A$5.3 million with zero debt supports ongoing exploration
Exploration Success at Miriam
Future Battery Minerals Ltd (ASX – FBM) has reported compelling results from its recent drilling campaigns at the Miriam Gold Project in Western Australia. The company completed Phase 1 and Phase 2 reverse circulation (RC) drilling programs targeting the Forrest and Canyon prospects, delivering numerous thick, high-grade gold intercepts within shallow oxidised zones and fresh rock lodes. Notably, hole FGRC004 returned an impressive 33 metres at 2.80 grams per tonne gold from 35 metres, including a high-grade 12-metre section at 4.39 g/t Au.
These results have enabled FBM to refine the geological model and better define mineralised zones, with the discovery of a significant mineralised shear zone, the Miriam Shear, extending over 6.2 kilometres through the project tenure. This shear zone hosts multiple gold-bearing structures and remains open along strike and at depth, highlighting substantial exploration upside.
Advancing Regional Targets at Burbanks East
Beyond Miriam, FBM has advanced its Burbanks East Project, located adjacent to Horizon Minerals’ Burbanks Mine. A comprehensive review of historical drilling and soil sampling data identified six broad surface gold anomalies, including a 2.7-kilometre-long anomaly with no prior drill testing. The company’s litho-structural interpretation has delineated seven broad gold targets coinciding with elevated geochemical anomalies, setting the stage for future drill programs once tenure is granted and heritage agreements are finalised.
Strategic Acquisition Opportunity – Randalls Gold Project
In a strategic move to expand its portfolio, FBM signed a binding six-month exclusive option agreement to acquire 100% of the Randalls Gold Project, situated approximately 65 kilometres east of Kalgoorlie. The Randalls package comprises six tenements covering highly prospective Archaean greenstone belts and key regional structures known for orogenic gold mineralisation. The project benefits from proximity to multiple operating gold processing plants, offering flexible commercialisation pathways for any future discoveries.
The option agreement includes a modest upfront fee and milestone payments tied to resource definition, alongside a 1% net smelter return royalty with a buy-back option. FBM is already undertaking detailed due diligence, including historical data validation and geophysical reviews, to identify priority targets.
Financial and Corporate Position
FBM remains well-capitalised with a cash balance of approximately A$5.3 million and no debt as of the end of September 2025, underpinning its aggressive exploration agenda. The company also announced the cancellation of 16.5 million performance rights previously issued to directors, aligning management incentives with current strategic priorities.
Looking ahead, FBM plans to release Phase 2 drilling assay results from Miriam in batches starting November 2025, conduct heritage surveys across key project areas, and progress tenure grant and exploration readiness at Burbanks East. The company continues to evaluate additional regional consolidation opportunities and potential acquisitions to enhance its foothold in the Eastern Goldfields.
Bottom Line?
With robust drilling results and strategic acquisitions underway, FBM is poised to unlock significant gold resource potential in Western Australia’s prolific goldfields.
Questions in the middle?
- How will Phase 2 assay results from Miriam influence FBM’s resource modelling and development plans?
- What impact will the Randalls acquisition have on FBM’s exploration pipeline and market valuation?
- How will the cancellation of director performance rights affect management incentives and shareholder alignment?