Enterprise Metals reports encouraging preliminary gold assay results from its recent drilling at the Vulcan Prospect within the Doolgunna Project, highlighting significant near-surface mineralisation and potential for a substantial gold deposit.
- 16m at 1.25g/t gold intersected in drill hole VAC001
- Coherent near-surface oxide gold mineralisation confirmed at Central Vulcan
- Drilling program comprised 9 reverse circulation and 4 air core holes
- Further assays pending from 1m samples and base metal analyses
- Exploration Incentive Scheme grant covered 50% of drilling costs
Preliminary Results Highlight Gold Potential
Enterprise Metals Ltd (ASX – ENT) has released preliminary gold assay results from its recent drilling campaign at the Vulcan Prospect, part of the broader Doolgunna Project in Western Australia. The initial 4-metre composite samples reveal encouraging gold mineralisation, including a standout intersection of 16 metres grading 1.25 grams per tonne (g/t) gold from 40 metres depth in drill hole VAC001. This result supports the presence of a significant gold system extending over a 400-metre strike length.
The drilling program, completed in September 2025, comprised nine reverse circulation (RC) holes totaling 1,334 metres and four air core (AC) holes totaling 224 metres. These holes targeted both oxide and primary mineralisation zones, with assays from base metal multi-element analyses still awaited.
Near-Surface Oxide Mineralisation Confirmed
Several drill holes, including VRC007 and VRC008, confirmed coherent near-surface oxide gold mineralisation within the Central Vulcan area. For instance, VRC007 intersected 16 metres at 0.78 g/t gold from 20 metres depth, while VRC008 recorded two mineralised intervals of 4 metres at 0.7 g/t and 4 metres at 0.64 g/t gold at shallow depths. These findings suggest the presence of an oxide gold zone approximately 80 by 40 metres in size, which could be amenable to near-surface mining methods.
However, the orientation and extent of primary gold mineralisation beneath the supergene (weathered) zone remain uncertain. Some deeper holes, such as VRC009 and VRC010, intersected oxide gold mineralisation but did not clearly define primary mineralisation in fresh rock, indicating that further structural interpretation and drilling are required.
Historical Context and Strategic Location
The Vulcan Prospect sits within a 1,000-metre-long gold anomaly characterized by elevated gold and associated base metal pathfinders typical of volcanic massive sulphide (VMS) systems. Previous drilling by Enterprise and limited work by Sandfire Resources NL between 2016 and 2022 focused more on copper targets, leaving gold potential underexplored. Notably, the prospect lies about 50 kilometres from Catalyst Metals Ltd’s Plutonic mill, underscoring potential logistical advantages should a deposit be developed.
Enterprise’s recent drilling was partly funded by a $90,000 grant from the Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme, covering half of the direct drilling costs. This support reflects government confidence in the project’s prospectivity.
Next Steps and Market Implications
The company plans to assay individual 1-metre samples from composite intervals that returned significant gold values to better resolve higher-grade zones potentially diluted in the 4-metre composites. Additionally, multi-element assays for base metals are pending, which could provide further insights into the mineralisation style and economic potential.
Further drilling is anticipated to refine the structural controls on mineralisation and test extensions along strike and at depth. These results will be critical in assessing whether Vulcan can evolve from an early-stage exploration target into a defined resource.
Bottom Line?
Enterprise Metals’ Vulcan results mark a promising step forward, but the true scale and grade await finer assay resolution and further drilling.
Questions in the middle?
- What will the 1-metre sample assays reveal about higher-grade gold zones?
- How will the pending base metal analyses influence the interpretation of Vulcan’s mineralisation?
- What is the potential size and geometry of the primary gold mineralisation beneath the oxide zone?