Minerals 260 Limited has reported compelling new drilling results at its Bullabulling Gold Project, revealing significant high-grade gold mineralisation extensions that could boost the current 2.3 million ounce resource estimate.
- 107 new drill holes totaling 21,496m with high-grade gold intercepts
- Extensions confirmed at Phoenix, Bacchus, Dicksons, Kraken, and Gibraltar deposits
- Potential increase to 2.3Moz Mineral Resource Estimate expected by December 2025
- Over 100,000m drilled to support Pre-Feasibility Study and resource upgrade
- High-grade intercepts suggest deeper and larger pit designs possible
Bullabulling Project Drilling Update
Minerals 260 Limited (ASX, MI6) has released a detailed update on its ongoing drilling campaign at the Bullabulling Gold Project in Western Australia. The latest assays from 107 drill holes, totaling over 21,000 meters, have confirmed significant extensions of high-grade gold mineralisation across multiple deposits within the project area. These results reinforce the potential to increase the current Mineral Resource Estimate (MRE) of 2.3 million ounces of gold.
The Bullabulling project, situated 25 kilometers west of Coolgardie, hosts several key deposits including Phoenix, Bacchus, Dicksons, Kraken, and the Gibraltar prospect. The recent drilling has focused on both infill and extensional targets, aiming to upgrade inferred resources to indicated status and to explore mineralisation beyond existing pit shells.
Highlights from Key Deposits
At the Phoenix deposit, known for its 930,000 ounces at 1.1 grams per tonne gold, drilling intercepted impressive high-grade zones such as 10 meters at 10.9 g/t Au including a standout 1 meter at 88.9 g/t Au from 203 meters depth. These intercepts suggest the mineralisation extends deeper than previously modelled, potentially allowing for a deeper pit design.
The Bacchus deposit, with a current resource of 890,000 ounces at 1.3 g/t Au, continues to deliver thick and consistent mineralisation. Recent infill drilling has intersected high-grade zones along the footwall shear zone, including 14 meters at 4.2 g/t Au and 4 meters at 9.8 g/t Au, supporting the potential reclassification of resources to a higher confidence category.
At Dicksons, a smaller deposit with 222,000 ounces at 0.9 g/t Au, drilling returned one of the campaign’s highest grade-thickness intercepts, 5 meters at 21.7 g/t Au, including 2 meters at 48.3 g/t Au from 164 meters depth. This confirms the presence of robust high-grade mineralisation beneath the current pit shell.
The Kraken deposit, hosting 160,000 ounces at 1.7 g/t Au, also showed promising results with infill and extensional drilling intersecting mineralisation such as 12 meters at 1.6 g/t Au and diamond core intercepts exceeding 19 g/t Au over short intervals. These findings highlight the potential for resource growth and mine scheduling optimisation by targeting shallow, high-grade zones early in the mine life.
Additionally, drilling at the Gibraltar prospect, which is not yet included in the current MRE, intersected thick mineralisation down-plunge with 19.9 meters at 1.7 g/t Au. A maiden resource estimate for Gibraltar is planned later this year, further expanding Bullabulling’s resource base.
Project Outlook and Next Steps
With over 100,000 meters drilled since April 2025, Minerals 260 is on track to deliver an updated Mineral Resource Estimate by early December. Managing Director Luke McFadyen emphasised the quality and continuity of the drilling results, noting that the majority of the new data will be incorporated into the resource update. The company is also progressing a Pre-Feasibility Study (PFS) to evaluate the economic potential of the expanded resource.
The drilling campaign continues to target extensions of high-grade mineralisation both beneath and along strike from existing resources, with a focus on upgrading resource classifications and expanding the mineable ounces. The results to date suggest the potential for deeper pits and increased resource tonnage, which could enhance the project’s economic viability.
Minerals 260’s comprehensive exploration approach, including infill, extensional, and metallurgical drilling, positions Bullabulling as a compelling development opportunity in the Eastern Goldfields region. The company’s methodical data collection and quality control protocols underpin confidence in the upcoming resource upgrade and feasibility outcomes.
Bottom Line?
As Minerals 260 advances towards its December resource update, Bullabulling’s expanding high-grade footprint could reshape its development trajectory.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact the project’s mine plan and economics?
- What are the timelines and key milestones for the Pre-Feasibility Study completion?
- How might the inclusion of Gibraltar’s maiden resource influence overall project valuation?