Can Moonlight Sustain Momentum After Strong Initial Drilling Results?
Moonlight Resources has kicked off its ASX debut with promising gold drilling results at its Clermont project, confirming significant mineralisation and setting the stage for accelerated exploration.
- Raised A$10 million in December 2025 IPO
- All 14 initial drill holes at Leo Grande intersected gold mineralisation
- Notable intervals include 40m at 1.30 g/t and 34m at 1.37 g/t gold
- LiDAR survey completed to enhance geological modelling
- Strong cash position of A$9.03 million at quarter end
IPO Fuels Exploration Ambitions
Moonlight Resources Ltd (ASX – ML8) marked a significant milestone in December 2025 by successfully completing its initial public offering, raising A$10 million before costs. This capital injection has provided the company with a robust financial foundation to accelerate its exploration activities, particularly at its flagship Clermont Gold Project in Queensland.
Encouraging Drilling Results at Leo Grande
Shortly after listing, Moonlight Resources swiftly mobilised to commence a confirmatory and infill drilling campaign at the Leo Grande Prospect, a key target within the Clermont project. The initial phase, completed before the quarter’s end, comprised 14 reverse circulation drill holes totaling 940 metres. Assay results released in January 2026 revealed gold mineralisation in every hole, with multiple thick, near-surface intervals. Highlights included a 40-metre intersection grading 1.30 grams per tonne from surface and a 34-metre interval at 1.37 grams per tonne, which included a higher-grade 10-metre section at 2.52 grams per tonne.
Validating Geological Models and Expanding Potential
The drilling results have validated Moonlight’s geological interpretation, confirming continuity within the Leo Grande Shear Zone and extending mineralisation beyond historical drilling boundaries. Notably, several holes ended in mineralisation, suggesting the system remains open at depth and along strike. Step-out drilling approximately 60 metres south of previous holes confirmed the southern continuity of the mineralised zone, underscoring the prospect’s potential for resource growth.
Supporting Technology and Future Plans
To complement drilling efforts, Moonlight completed a LiDAR survey over three high-priority target areas, including Leo Grande, Goldfinger, and Petersons. This survey will enhance topographic accuracy for geological modelling and future resource estimation. Looking ahead, the company plans to commence a second phase of drilling in February 2026, targeting up to 30 RC holes at Leo Grande, followed by drilling at the Goldfinger Prospect. These efforts aim to delineate a maiden JORC-compliant mineral resource that could underpin a future production hub.
Broader Exploration Portfolio and Financial Health
Beyond Clermont, Moonlight holds a diverse portfolio of exploration projects across Queensland, Northern Territory, Western Australia, and New South Wales, focusing on gold, rare earth elements, and uranium. The MacDonnell Ranges REE-Uranium Project in the Northern Territory is a district-scale opportunity with promising early-stage potential. The company ended the quarter with a strong cash balance of A$9.03 million, positioning it well to fund ongoing and upcoming exploration activities.
Bottom Line?
With solid initial drilling success and a healthy cash reserve, Moonlight Resources is poised to advance its exploration strategy and unlock value at Clermont and beyond.
Questions in the middle?
- How will upcoming phase two drilling refine the resource potential at Leo Grande?
- What are the timelines and prospects for defining a JORC-compliant resource at Clermont?
- How might exploration progress at the MacDonnell Ranges influence Moonlight’s strategic focus?
