Springfield Acquisition Poses Execution Risks as Drilling Awaits Final Government Approval

Springfield Acquisition Bolsters Xpedra’s NSW Portfolio

Xpedra Resources Limited (ASX, XPD) has marked a significant milestone by acquiring a 100% interest in the Springfield Gold Deposit, located in central New South Wales. This advanced, drill-ready project is distinguished by multiple wide and high-grade historical gold intercepts, recorded in limited drilling that ceased in 1999. The deposit features a mineralised monzodiorite intrusion extending over more than 1,700 metres of strike, with mineralisation remaining open both along strike and at depth.

Historical drilling highlights include intercepts such as 27 metres at 3.65 grams per tonne gold from surface, including higher-grade zones of 6 metres at 8.29 g/t and 3 metres at 9.23 g/t. Another notable intercept is 86 metres at 1.04 g/t from 104 metres depth, featuring 12 metres at 2.90 g/t and 26 metres at 1.83 g/t. Despite these promising results, only 6,568 metres of drilling has been completed previously, with an average hole depth of just 35 metres, underscoring the substantial exploration upside.

Maiden Drilling Program Set to Unlock Potential

With land access agreements secured and a local drilling contractor appointed, Xpedra is preparing to commence its maiden drilling campaign at Springfield in mid to late February 2026. The program will comprise 30 to 40 reverse circulation drill holes totalling 3,000 to 4,000 metres. Objectives include confirming historical results, testing controls on high-grade mineralisation, and exploring extensions along strike and at depth. The program will also target shallow gold mineralisation at the adjacent Springfield North Prospect, where previous air-core drilling returned encouraging results.

The commencement of drilling remains contingent on final government approvals, expected imminently. This program represents a critical step in advancing Springfield from a historical prospect to a modern exploration project with the potential to define a significant gold resource.

Progress at Rockvale and Corporate Developments

Alongside Springfield, Xpedra has initiated a systematic soil geochemistry program at its 100%-owned Rockvale Gold-Antimony Project, also in NSW. The program covers a 10 by 5 kilometre area centred on the Achill Prospect, which lies within the same structural corridor as Larvotto Resources’ Hillgrove Gold-Antimony Mine, Australia’s largest antimony resource. Approximately 950 soil samples have been collected, with assay results anticipated in February 2026. These results will guide follow-up exploration and potential drilling.

On the corporate front, Xpedra successfully completed a $2.2 million placement to fund its exploration programs, with directors subscribing for $235,000. The company also appointed seasoned mining executive Scott Funston as a Non-Executive Director, strengthening its governance and strategic capabilities. Reflecting its refreshed leadership and strategic direction, the company formally changed its name from Thunderbird Resources Limited to Xpedra Resources Limited, trading under the ticker XPD.

Looking Ahead

With a well-funded balance sheet, a strengthened board, and a portfolio of promising projects, Xpedra is positioned to deliver on its exploration ambitions in 2026. The upcoming drilling at Springfield and assay results from Rockvale will be key catalysts for the company’s growth trajectory. Meanwhile, the joint venture uranium project in Canada remains an additional avenue of interest, pending drilling results from Mustang Energy Corporation.