Minerals 260 Doubles Bullabulling Gold Resource to 4.5Moz, PFS on Track

Resource Growth and Drilling Success

Minerals 260 Limited (ASX, MI6) has delivered a major update on its Bullabulling Gold Project in Western Australia, reporting a Mineral Resource Estimate (MRE) of 130 million tonnes at 1.0 grams per tonne gold, equating to 4.5 million ounces. This represents a substantial 2.2 million ounce increase; almost doubling the previous resource. The company’s aggressive drilling campaign, which has completed over 117,000 metres since acquisition in April 2025, has been instrumental in confirming thick, high-grade mineralisation along the Bacchus footwall shear zone and extending mineralisation at depth and along strike.

Notably, a standout intercept of 7 metres at 38.8 grams per tonne gold was recorded, marking the highest gram-metre result Minerals 260 has achieved at Bullabulling. The continuity of mineralisation over an 8.5-kilometre strike length and the inclusion of a maiden resource at the Gibraltar deposit further underscore the project’s scale and potential.

Advancing Towards Development

The company is progressing steadily towards development, with its Pre-Feasibility Study (PFS) scheduled for completion by mid-2026. GR Engineering has been appointed to lead the processing plant design and engineering, a critical step in translating the resource into a viable mining operation. Metallurgical test work has yielded promising gold recoveries between 90-95% across typical grind sizes, supporting the project’s economic prospects.

Alongside technical progress, Minerals 260 has successfully redeveloped five historical water bores and is conducting comprehensive hydrogeological assessments, essential for sustainable mine planning. Recruitment of key personnel in construction, engineering, and approvals reflects the company’s transition from exploration to development, aiming to de-risk and accelerate the project timeline.

Financial Position and Corporate Updates

Financially, Minerals 260 ended the December quarter with approximately $31 million in cash, maintaining a solid balance sheet to support ongoing exploration and development activities. Operating cash outflows were $11.1 million for the quarter, primarily driven by exploration expenditure. The company also reported minor cash inflows from option exercises and continued to manage its capital structure with unlisted options and performance rights issued as part of employee incentive programs.

Importantly, the company reported no lost time injuries or environmental incidents during the quarter, highlighting a strong commitment to health, safety, and environmental standards as it advances the Bullabulling project.

Looking Ahead

With a robust resource base, encouraging drilling results, and a clear development pathway, Minerals 260 is positioning Bullabulling as one of Australia’s leading gold development projects. The upcoming PFS will be a key milestone, providing further clarity on project economics and feasibility. Investors and industry watchers will be keen to see how the company leverages its resource growth and technical progress to secure financing and move towards production.