Early Drilling Success at Anabama Raises Questions on Resource Scale

Exploration Breakthrough at Anabama

Red Hill Minerals Limited (ASX – RHI) has delivered its first diamond drilling results from the Anabama Copper-Gold Project in South Australia, marking a significant milestone in its exploration campaign. The Anabama Project, situated within the Curnamona Earn-In Joint Venture with Peel Mining Limited, has long been a focus for copper and gold exploration, and these initial results provide encouraging confirmation of mineralisation at depth.

The maiden drilling program comprised two diamond drillholes totalling 945.5 metres, designed to test the copper-gold mineralisation along the Anabama-Redan Shear Zone. This structural feature is known for hosting mineralised zones, but until now, drilling had been limited to shallower depths. The first hole, 25ANDD001, has confirmed copper-gold mineralisation hosted in fresh bedrock and extended the mineralised zone by approximately 130 metres beneath the deepest historic drillhole, CRD10.

Significant Assay Results and Geological Insights

Assays from 25ANDD001 revealed a 20-metre interval averaging 0.6% copper, 0.2 grams per tonne (g/t) gold, and 3.0 g/t silver starting at 313.1 metres depth. Within this interval, higher-grade zones were identified, including 3.2 metres at 1.0% copper and 1.0 g/t gold, and 3.8 metres at 1.2% copper and 0.3 g/t gold. These results not only validate historic surface and near-surface intercepts but also demonstrate the continuity of mineralisation at depth, which is critical for assessing the project's economic potential.

Geologically, the mineralisation is associated with hydrothermal alteration, featuring quartz-carbonate veining with sulphide minerals such as chalcopyrite, pyrite, and pyrrhotite. The presence of these minerals in fresh bedrock confirms a hydrothermal origin and supports the interpretation of a structurally controlled copper-gold system along the shear zone. The drilling also intersected graphitic shales and volcanic units, providing valuable context for the deposit's geological setting.

Next Steps and Exploration Potential

The second drillhole, 25ANDD002, has been completed with assays pending, expected in March. Both holes have been cased for downhole electromagnetic (DHEM) surveys scheduled for late January, which aim to detect conductive zones indicative of further mineralisation near the drill collars. These geophysical results will guide future drilling and help delineate the extent of the mineralised system along the more than six-kilometre strike length of the Anabama-Redan Shear Zone highlighted by recent induced polarisation surveys.

Red Hill Minerals’ exploration manager, Matthias Michel, emphasised the significance of these early results, noting that confirming mineralisation at depth provides a strong foundation for expanding the project’s footprint. The company’s methodical approach, combining geophysical surveys with targeted drilling, positions it well to unlock the full potential of the Anabama Project.

As the assays from the second hole and DHEM survey results come to hand, investors and analysts will be watching closely to see if the promising trends continue. The project remains at an early stage, but these results mark a positive step forward in Red Hill Minerals’ copper-gold exploration strategy.