How ActivEX’s 5,000m Gilberton Drill Program Could Transform Its Gold Prospects

Exploration Momentum at Gilberton

ActivEX Limited has initiated a significant 5,000-metre reverse circulation drilling program at its Gilberton Gold Project in North Queensland. This campaign aims to expand the recently established Mineral Resource Estimate, which currently stands at 310,000 ounces of gold at a grade of 1.13 grams per tonne. The project benefits from its proximity to the world-class Kidston gold deposit and features promising geological structures such as the Mt Hogan Granite, where high-grade gold mineralisation has been identified.

The drilling program will focus on the southern margin of the granite intrusion, targeting stacked mesothermal quartz-sulphide veins known for their gold and silver content. Previous drilling has returned impressive intercepts, including assays up to 50 grams per tonne gold, underscoring the project's potential. Upcoming HQ core drilling is planned to provide further metallurgical and structural data to support resource development.

Progress on Rare Earth Elements Front

ActivEX is advancing its rare earth element (REE) exploration with two key projects in Central Queensland. At the Westgrove REE Project, Native Title Exploration Agreements with local Aboriginal Corporations are nearing completion, which will enable the commencement of surface exploration activities. The project targets the Westgrove Ironstone Member, a ferruginous sedimentary unit with potential for significant REE mineralisation, including light and heavy rare earth elements.

Meanwhile, the Aramac REE and base metals project is preparing for a comprehensive exploration campaign starting late 2025 or early 2026. This will include geological mapping, soil sampling, and a planned aeromagnetic and radiometric survey, pending government funding approval. Initial sampling has revealed encouraging concentrations of rare earth elements and base metals such as zinc and cobalt, suggesting a promising exploration target.

Portfolio Management and Financial Position

In a strategic move to focus resources on its core projects, ActivEX has sold its 49% interest in the Pentland Gold Project for $49,000. This divestment allows the company to reallocate funds towards advancing higher priority assets. Additionally, the Georgetown Gold and Critical Metals Project is being actively marketed for joint venture or sale, with an Information Memorandum distributed to potential partners.

Financially, ActivEX ended the quarter with $202,000 in cash and has successfully negotiated an extension of its $5 million unsecured loan facility with Star Diamond Developments Limited, now maturing in April 2027. The company reported net cash outflows from operating and investing activities, reflecting ongoing exploration expenditure. Director fees totaling $28,000 were paid during the quarter, consistent with corporate governance requirements.

Looking Ahead

ActivEX’s exploration strategy is clearly focused on unlocking value from its Queensland portfolio, balancing aggressive drilling programs with prudent financial management. The upcoming assay results from Gilberton’s drilling and the granting of Westgrove tenements will be critical milestones. Meanwhile, the company’s efforts to secure partners or buyers for non-core assets could provide additional capital to sustain its exploration momentum.