Comet Vale Resource Soars to 860,000 Ounces at 3.7g/t Gold
Gorilla Gold has dramatically expanded its Comet Vale gold resource by 900%, boosting its Western Australian portfolio to 1.5 million ounces and securing $31.7 million in fresh capital to accelerate development.
- Comet Vale Mineral Resource Estimate increased to 860,000 ounces at 3.7g/t gold
- Western Australian resource base now totals 1.5 million ounces at 3.8g/t gold
- High metallurgical recoveries averaging 93% confirmed at Mulwarrie project
- Successful $31.7 million oversubscribed placement completed
- Ongoing drilling with five rigs targeting resource growth and development
Transformational Resource Upgrade at Comet Vale
Gorilla Gold Mines Ltd (ASX – GG8) has announced a landmark 900% increase in the Mineral Resource Estimate (MRE) at its flagship Comet Vale Gold Project in Western Australia. The updated resource now stands at 7.3 million tonnes grading 3.7 grams per tonne gold, containing approximately 860,000 ounces of gold. This substantial upgrade highlights the scale and high-grade nature of the project, which lies on granted mining leases just 90 kilometres north of Kalgoorlie.
The resource expansion was achieved through extensive drilling, with over 50,000 metres completed between October 2024 and October 2025. Notably, 1.7 million tonnes at 4.1g/t gold (220,000 ounces) are classified as Indicated Resources, supporting both open pit and underground mining scenarios. The remaining resource is split between open pit-optimised and underground mineable shapes, underpinning flexible development options.
Broader Western Australian Growth and Metallurgical Success
Beyond Comet Vale, Gorilla Gold’s total Western Australian resource base has surged to 12.4 million tonnes at 3.8g/t gold, equating to 1.5 million ounces. This represents a remarkable 1,200% increase since the start of 2025, driven by aggressive exploration and consolidation efforts across the Comet Vale, Mulwarrie, and Vivien projects.
At Mulwarrie, metallurgical test work has confirmed excellent gold recoveries averaging 93%, with a strong gravity recoverable component of 44.5%. These results suggest that the ore is amenable to conventional processing methods common in the Kalgoorlie region, enhancing the project’s development potential.
Capital Raising and Strategic Outlook
To fund its ambitious growth plans, Gorilla Gold completed an oversubscribed placement raising $31.7 million at $0.40 per share. The company ended the quarter with a robust cash balance of $37.2 million, providing a solid financial foundation for ongoing drilling and development activities.
CEO Charles Hughes emphasised the company’s disciplined strategy of rapidly growing high-grade gold resources on granted mining leases close to infrastructure. With five drill rigs active since early January 2026, Gorilla is focused on extending mineralisation beyond current boundaries and upgrading resource classifications to support near-term production scenarios.
Looking Ahead
Gorilla Gold’s December quarter results mark a pivotal step in its evolution from explorer to developer. The combination of a significantly expanded resource base, strong metallurgical characteristics, and a healthy cash position positions the company well to advance its projects towards production in one of the world’s premier gold provinces.
Bottom Line?
With a transformed resource base and solid funding, Gorilla Gold is poised to unlock significant value in Western Australia’s goldfields.
Questions in the middle?
- What are the timelines and capital requirements for advancing Comet Vale towards production?
- How will ongoing drilling impact the classification of resources from Inferred to Indicated or Measured?
- What are the potential risks or challenges in transitioning from exploration to development phases?
