Exploration Targets Remain Conceptual as Manuka Revises Disclosures and Ramps Up Drilling
Manuka Resources has revised its exploration target disclosures to comply with JORC standards and announced an accelerated gold drilling program targeting extensions at Mt Boppy and shallow mineralisation at Pipeline Ridge, with results expected early 2026.
- Revised announcement ensures full JORC Code compliance
- Gold drilling program to start December 2025 at Mt Boppy and Pipeline Ridge
- Targets include deep extensions at Mt Boppy and shallow gold at Pipeline Ridge
- Wonawinta Silver Mine restart planned within six months
- Exploration Targets remain conceptual pending further drilling
Background and Compliance Update
Manuka Resources Limited (ASX, MKR) has issued a revised announcement following ASX feedback to ensure full compliance with Clause 17 of the JORC Code (2012) regarding its Exploration Targets. This revision clarifies the conceptual nature of the targets and aligns disclosure with industry standards, addressing earlier non-compliance. The company apologised for any confusion caused and confirmed the updated release has ASX approval.
Accelerated Gold Exploration Program
Building on this compliance update, Manuka confirmed it will commence an accelerated gold exploration drilling program in early December 2025 focused on its Cobar Basin assets. The program targets near-pit extensions and new discoveries at two key projects, the historic Mt Boppy Gold Mine and the Pipeline Ridge gold prospect.
At Mt Boppy, the drilling aims to test deep extensions of the high-grade gold mineralisation that historically produced approximately 500,000 ounces at an impressive grade of around 15 grams per tonne. The initial phase involves three drill holes targeting depths near 500 metres, including a structural target about 1,000 metres south of known resources. Previous drilling indicates the deposit remains open both along strike and at depth, making this a highly prospective target.
Meanwhile, the Pipeline Ridge project, situated roughly 28 kilometres south of Mt Boppy, will undergo an extensive shallow drilling campaign totaling over 3,100 metres. This phase targets near-surface gold mineralisation previously intersected by historic drilling, aiming to delineate an open-pit resource within an Exploration Target estimated between 187,000 and 365,000 tonnes grading 1.1 to 1.5 grams per tonne gold.
Technical and Operational Context
Manuka’s exploration approach integrates historic geological data, geophysical surveys, and structural modelling to refine drill targets. The Mt Boppy deposit’s complex thrust and shear structures, combined with its high-silica, low-sulphide mineralisation, suggest a robust hydrothermal system with potential for further high-grade zones. Pipeline Ridge’s polymetallic volcanic massive sulphide setting adds another dimension of exploration potential, with shallow oxide gold zones suitable for open-pit extraction.
The company also highlighted plans to restart its Wonawinta Silver Mine and processing plant within the next six months, signaling a broader operational ramp-up alongside exploration activities. Assay results from the upcoming drilling are expected in the first quarter of 2026 and will be critical in informing future resource upgrades and production planning.
Exploration Targets and Forward Outlook
It is worth noting that the Exploration Targets remain conceptual, with insufficient drilling to define Mineral Resources at this stage. Manuka emphasises that further drilling is required to confirm whether these targets can be converted into economically viable resources. The company’s use of advanced Photon Assay technology for gold analysis aims to enhance assay accuracy and efficiency, particularly in detecting visible gold mineralisation.
Executive Chairman Dennis Karp expressed optimism about the program’s potential, citing the historic high-grade tenor at Mt Boppy and encouraging shallow mineralisation at Pipeline Ridge. The upcoming drilling campaign represents a pivotal step toward expanding Manuka’s footprint in the Cobar Basin and advancing its 10-year production plan.
Bottom Line?
Manuka’s upcoming drilling results will be a crucial litmus test for unlocking new gold resources and underpinning its growth ambitions in the Cobar Basin.
Questions in the middle?
- Will the December drilling confirm extensions sufficient to upgrade Mt Boppy’s Mineral Resource?
- How quickly can Manuka progress from exploration success to production restart at Wonawinta?
- What impact will the revised JORC-compliant disclosures have on investor confidence and valuation?