Bubalus Resources has completed maiden drilling at its Crosbie North and South gold projects, submitting core samples for assay with results expected in December. The company also secured a drill rig for Avon Plains and extended its Syndicate Minerals option agreement to 2026.
- 144 core samples submitted from Crosbie North drilling
- 47 additional core samples from Crosbie South sent for assay
- Reverse circulation drill rig secured for Avon Plains program starting December
- Option agreement with Syndicate Minerals extended to at least 2026
- Historical high-grade gold results at Wilson’s Hill support further exploration
Exploration Progress at Crosbie North and South
Bubalus Resources Limited (ASX – BUS) has reported significant progress in its Victorian gold exploration portfolio, with maiden diamond drilling completed at the Crosbie North project. A total of 144 core samples have been submitted to ALS Laboratories for assay, with results anticipated in December 2025. This drilling targets metasediment-hosted gold mineralisation approximately 15 kilometres from the renowned Fosterville Mine operated by Agnico Eagle.
Meanwhile, further assay work is underway at the Crosbie South project, where initial drilling previously intersected gold in all holes, including high-grade intervals up to 50 grams per tonne over 0.2 metres. An additional 47 core samples have been sent for analysis following specialist geochemical modelling that highlighted promising alteration and pathfinder signatures indicative of a significant gold system.
Avon Plains Drilling Set to Commence
Looking ahead, Bubalus has secured a reverse circulation drill rig to undertake its maiden drilling program at the Avon Plains Gold Project. Scheduled to begin in early December, this campaign will focus on a historically mined high-grade gold reef, with a minimum of 1,200 metres planned. The Avon Plains project adds another dimension to Bubalus’s Victorian gold portfolio, reinforcing the company’s commitment to advancing multiple targets simultaneously.
Strategic Extension of Syndicate Minerals Option
In a strategic move, Bubalus’s board resolved in November to extend the option agreement with Syndicate Minerals until at least 2026. This extension involves a $150,000 payment to the vendor, enabling continued exploration at key projects including Wilson’s Hill. Historical drilling at Wilson’s Hill by Western Corporation Mining in the 1980s yielded exceptional results, such as 8 metres at 23.83 grams per tonne gold, underscoring the potential for further discoveries.
These developments reflect Bubalus’s broader exploration strategy across its Victorian goldfields portfolio, which also includes the Murrindindi and Castleburn North projects. The company is leveraging a combination of modern geochemical techniques, detailed modelling, and targeted drilling to unlock value in these historically underexplored areas.
Broader Portfolio and Future Outlook
Beyond Victoria, Bubalus maintains a diverse suite of projects across Australia, including lithium prospects at Yinnietharra, manganese at Amadeus, and rare earth elements in the Northern Territory. This diversified approach positions the company to capitalize on multiple commodity cycles while focusing near term on advancing its Victorian gold assets.
With assay results from Crosbie North and South expected imminently and drilling about to commence at Avon Plains, Bubalus is poised for a potentially transformative phase. Investors and analysts will be watching closely for assay outcomes that could validate the company’s exploration thesis and underpin future resource development.
Bottom Line?
December assay results and Avon Plains drilling will be pivotal in defining Bubalus’s next growth chapter.
Questions in the middle?
- Will the December assay results confirm significant gold mineralisation at Crosbie North and South?
- How will the Avon Plains drilling program impact Bubalus’s resource potential and valuation?
- What are the strategic implications of extending the Syndicate Minerals option through 2026?