Adelong Gold Limited reports promising visible gold intersections at its Lauriston project, progresses exploration at Apollo with strong soil assays, and strategically exits its Challenger Mines joint venture to sharpen focus on Victorian assets.
- Visible gold observed in Lauriston diamond drilling confirming high-grade potential
- Ongoing diamond drilling at Lauriston’s Comet and Yankee-Trojan prospects
- Apollo project soil sampling reveals continuous gold-antimony anomalies
- Sale of 49% Challenger Mines interest to Great Divide Mining strengthens balance sheet
- Cash position solid at AUD 2.86 million, supporting ongoing exploration
Exploration Momentum at Lauriston
Adelong Gold Limited has made significant strides in its December 2025 quarter, particularly at the Lauriston Gold Project in Victoria. The company completed six diamond drill holes totaling nearly 1,500 metres, intersecting sheared quartz-sulphide mineralisation indicative of an epizonal gold-antimony system. Notably, visible gold was observed in drill hole AC2502 within the Comet Shear, a structural corridor that has shown strong prospectivity. This visual confirmation, while not a definitive grade indicator, aligns with historic high-grade intercepts and reinforces the potential for a substantial mineralised system.
Drilling has now extended to the Yankee-Trojan prospect, approximately three kilometres north along strike from Comet, aiming to test structural continuity and mineralisation depth. The geological signatures at Lauriston bear resemblance to major Victorian gold systems such as Fosterville and Costerfield, where higher-grade mineralisation often strengthens below arsenic-rich upper zones. Assay results for the recent drilling are expected in the first quarter of 2026, which will be critical to validating these early observations.
Apollo Project Advances with Soil Sampling Success
Meanwhile, at the Apollo Gold and Antimony Project, also in Victoria, Adelong has built on its maiden drilling success from earlier in 2025. The initial drilling confirmed a coherent gold-antimony system beneath historical workings, with mineralisation continuity demonstrated at depth and along strike. During the quarter, the company completed a regional soil sampling program covering approximately 11 kilometres of strike along the Strathbogie Granite contact. The assays revealed continuous gold-antimony anomalies, particularly south of historic workings at Woolfe’s/Falk’s open cuts, highlighting new targets for infill sampling and future drilling.
The Apollo project’s geological setting suggests an alkalic intrusive-related system, distinct from typical orogenic gold deposits, with gold occurring as fine disseminations and free grains associated with tellurium minerals. This adds a compelling dimension to the project’s exploration potential, with plans underway for follow-up drilling to support a maiden resource estimate.
Strategic Divestment of Challenger Mines Interest
In a strategic move to streamline its portfolio and focus on Victorian assets, Adelong has entered binding agreements to sell its 49% interest in Challenger Mines Pty Ltd, owner of the Challenger Gold Project in New South Wales, to Great Divide Mining Limited. The transaction, expected to complete in the March 2026 quarter, will see Adelong receive 10 million fully paid ordinary shares in Great Divide Mining and retain a 1% net smelter return royalty capped at 125,000 ounces of gold produced. This divestment removes future funding obligations related to Challenger Mines and strengthens Adelong’s balance sheet, allowing for greater capital discipline and focus on Lauriston and Apollo.
The company also reported the resignation of Non-Executive Director Louie Simens, who stepped down following his departure from Nova Minerals. Adelong does not anticipate this change will affect its strategic relationship with Nova Minerals.
Financial Position and Outlook
Adelong Gold ended the quarter with a healthy cash balance of AUD 2.86 million, well-positioned to fund ongoing exploration activities. The company’s disciplined approach to capital management, combined with its focused asset base, sets the stage for a potentially transformative year ahead as assay results from Lauriston and Apollo are awaited. The integration of new data will be pivotal in defining the scale and quality of these Victorian gold-antimony systems.
Bottom Line?
As assay results loom and drilling advances, Adelong Gold’s Victorian projects could redefine its growth trajectory.
Questions in the middle?
- What will the assay results reveal about the grade and continuity of gold at Lauriston’s Comet and Yankee-Trojan prospects?
- How will the sale of Challenger Mines shares and royalty impact Adelong’s long-term revenue and exploration funding?
- What are the next steps and timelines for resource estimation at the Apollo Gold and Antimony Project?