Neometals Unveils Strong Gold Assays at Barrambie, Eyes Resource Upgrade

Exploration Highlights at Barrambie

Neometals Ltd (ASX, NMT) has released encouraging gold assay results from its recent reverse circulation drilling program at the Ironclad deposit and the historic Mystery gold mine, both situated within its 100% owned Barrambie Gold Project in Western Australia. The results confirm significant intervals of high-grade gold mineralisation, with some intercepts extending over substantial widths, reinforcing the project's potential as a notable gold producer.

At Ironclad, drilling returned standout intercepts such as 19 metres at 4.16 grams per tonne (g/t) gold from 106 metres depth, including a higher-grade core of 9 metres at 7.19 g/t. Other notable results include 26 metres at 2.50 g/t from 69 metres, and a surface intercept of 26 metres at 4.04 g/t. These findings support the existing geological model that identifies a broad upper stockwork zone and a northerly plunging higher-grade mineralised structure, suggesting further exploration upside.

Mystery Mine Confirms High-Grade Potential

The historic Mystery gold mine area also delivered impressive results, with a highlight intercept of 14 metres at 11.74 g/t gold from 82 metres, including 6 metres at an exceptional 26.56 g/t. This confirms the presence of a steeply dipping, high-grade quartz vein system with a northerly plunge control, which remains open at depth and represents a compelling target for further drilling.

Advancing Towards Resource Update and Development

Neometals is currently processing the remaining assay data from the Barrambie Ranges drilling and plans to release further results later in January 2026. The company is actively updating the Ironclad Inferred Mineral Resource Estimate (MRE) and mine plan, with outcomes expected in the March quarter. These updates will be critical in advancing the project towards development, supported by ongoing geotechnical, metallurgical, hydrological, and environmental studies aimed at securing mining approvals.

Managing Director Chris Reed emphasised the significance of the new data, stating it bolsters confidence in the continuity and controls of gold mineralisation at Barrambie. He also highlighted the progress towards a production joint venture with BML Ventures, reflecting Neometals’ commitment to transitioning Ironclad from exploration to production.

Barrambie’s Strategic Position and Future Exploration

The Barrambie Gold Project is located within the prolific Murchison Gold Belt and hosts one of the world’s highest-grade titanium deposits alongside promising gold mineralisation. Neometals’ recent drilling is the first significant gold exploration in over two decades, aiming to unlock the project’s full potential. The company’s exploration target ranges between 335,000 and 775,000 ounces of gold, based on extensive historic and recent data.

Looking ahead, Neometals plans to update exploration strategies for the Mystery and Barrambie Ranges gold trends and to prioritise additional targets within its extensive tenure. The combination of high-grade gold potential and proximity to existing processing infrastructure positions Barrambie as a compelling development opportunity in the Western Australian gold sector.