Crosbie North Gold System Confirmed: What Risks Lie Ahead for Bubalus?
Bubalus Resources has confirmed a gold-bearing system at its Crosbie North prospect in Victoria following a maiden drilling program, with assays up to 1.32 g/t gold. The company is preparing for further drilling in 2026 to explore previously inaccessible targets and expand on these promising results.
- Maiden 3-hole diamond drilling confirms gold mineralisation
- Highest assay of 1.32 g/t gold associated with quartz veining and arsenopyrite
- Drilling targeted geophysical anomalies analogous to Fosterville gold mine
- Plans underway for expanded 2026 drilling program including inaccessible targets
- Detailed geological and assay protocols confirm robust early-stage results
Maiden Drilling Validates Gold Potential
Bubalus Resources Limited (ASX, BUS) has announced encouraging results from its inaugural diamond drilling campaign at the Crosbie North gold prospect, situated in the heart of Victoria's historic goldfields. The three-hole program, totaling approximately 560 metres, successfully confirmed the presence of a gold-bearing system with assays reaching up to 1.32 grams per tonne (g/t) gold.
The mineralisation is closely associated with quartz veining, brecciation, and arsenopyrite sulphides, hallmarks of the type of gold deposits found in the region. Notably, the drilling targeted geophysical chargeability anomalies analogous to those that host the nearby high-grade Fosterville gold mine, one of Australia's most prolific gold producers.
Strategic Exploration and Next Steps
While the maiden drilling was limited to areas accessible from existing tracks, it has laid a solid foundation for further exploration. Bubalus is now planning an expanded drilling program for 2026, which will include previously inaccessible targets identified through geochemical and geophysical surveys. The company also intends to undertake detailed geophysical data remodelling and specialist geochemical modelling to better vector towards higher-grade mineralisation zones within the system.
These steps are critical given that the true width and full extent of the mineralised system remain undetermined due to the limited drill data so far. The upcoming program aims to test the unexplained geophysical anomalies and refine the geological model, potentially unlocking a more substantial resource.
Robust Methodology Underpins Confidence
The drilling and sampling protocols adhered to industry best practices, including HQ3 triple tube diamond drilling, oriented core sampling, and rigorous assay procedures conducted by accredited laboratories. Quality control measures such as standards, blanks, and duplicates were employed to ensure data integrity. The Competent Person, Brendan Borg, a director of Bubalus and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and approved the results, adding credibility to the findings.
With the Victorian goldfields historically known for world-class deposits, the confirmation of a mineralised system at Crosbie North positions Bubalus Resources well within a highly prospective geological setting. The proximity to established operations like Fosterville and Costerfield further enhances the strategic value of this discovery.
Bottom Line?
Bubalus Resources’ maiden drilling at Crosbie North confirms a promising gold system, setting the stage for a pivotal 2026 exploration campaign that could reshape its Victorian gold portfolio.
Questions in the middle?
- What will the expanded 2026 drilling reveal about the extent and grade continuity of the gold system?
- How might the geophysical and geochemical remodelling refine target prioritisation and resource potential?
- Could the previously inaccessible targets hold higher-grade mineralisation analogous to Fosterville?
