How Did Gorilla Gold Boost Comet Vale Resources by 900% at Just $25/oz?

A Quantum Leap in Resource Scale

Gorilla Gold Mines Ltd (ASX – GG8) has unveiled a dramatic upgrade to its Comet Vale Gold Project resource, located 100 kilometres north of Kalgoorlie in Western Australia’s prolific Goldfields region. The updated Mineral Resource Estimate (MRE) now stands at 7.3 million tonnes grading 3.7 grams per tonne gold, equating to 860,000 ounces of contained gold. This represents a staggering 900% increase over previous estimates, adding 765,000 ounces at a remarkably low discovery cost of approximately $25 per ounce.

This leap is underpinned by extensive drilling campaigns totalling over 50,000 metres completed between October 2024 and October 2025, integrating both Reverse Circulation and Diamond Drilling techniques. The resource upgrade incorporates three new high-grade discoveries within the project area, reflecting Gorilla Gold’s focused strategy on delineating ounces in Tier-1 mining locations.

Strengthening a High-Grade Western Australian Portfolio

With this update, Gorilla Gold’s total Western Australian resources now aggregate 12.4 million tonnes at 3.8 grams per tonne for 1.5 million ounces of gold, spread across Comet Vale, Mulwarrie, and Vivien projects. Including inferred resources, the group’s total resource base reaches 15.4 million tonnes at 4.0 grams per tonne for 2 million ounces. This positions the company as a significant holder of high-grade gold ounces in one of the world’s most respected gold mining jurisdictions.

Chief Executive Officer Charles Hughes highlighted the rapid evolution of Comet Vale into a camp-scale gold development project, emphasizing the value delivered through disciplined exploration and resource growth. He noted that the 220,000 ounces classified as Indicated Resource at Comet Vale provide a solid foundation for advancing development studies.

Ongoing Exploration and Development Momentum

Gorilla Gold is actively progressing development studies at Comet Vale alongside its Mulwarrie and Vivien projects, while continuing aggressive drilling programs. Currently, three drill rigs are deployed at Comet Vale targeting further resource expansion, with two rigs focused on Mulwarrie. The company’s exploration success in 2025 has added 1.3 million ounces across its Western Australian projects, underscoring the effectiveness of its exploration strategy.

The Comet Vale project benefits from granted mining leases, proximity to established infrastructure, and a rich mining history including over 200,000 ounces produced at high grades exceeding 20 grams per tonne. Metallurgical testwork confirms strong gold recoveries, supporting the economic viability of the resource.

Geological and Technical Confidence

The resource update was completed by Snowden Optiro, leveraging a comprehensive dataset of historical and recent drilling. The geological model reflects multiple mineralised parallel structures extending over strike lengths greater than one kilometre, with mineralisation hosted in Archean greenstone belts typical of the Kalgoorlie Terrane. The resource classification includes both Indicated and Inferred categories, reflecting confidence levels based on drill spacing and data quality.

The company’s use of advanced estimation techniques, including ordinary kriging with dynamic anisotropy, ensures a robust and reliable resource model. The reported cut-off grades and mining assumptions align with industry standards and the project’s development stage.

Strategic Implications and Outlook

This substantial resource upgrade at Comet Vale not only enhances Gorilla Gold’s asset base but also validates its aggressive exploration approach in a Tier-1 jurisdiction. The low discovery cost per ounce and high-grade nature of the resource bode well for future project economics. As development studies advance and drilling continues, the market will be watching closely for further resource growth and potential pathways to production.