Mt Kersey Drilling Starts: What Risks Could Premier1 Face in This High-Stakes Campaign?

Strategic Drilling Commences at Mt Kersey

Premier1 Lithium Limited (ASX, PLC) has announced the start of a 3,700-metre reverse circulation drilling program at the Mt Kersey gold prospect, part of its wholly owned Yalgoo Gold Project in Western Australia. This marks a key operational milestone as the company seeks to test a highly prospective 5 square kilometre mineralised zone identified through extensive geological and geochemical work.

The Mt Kersey prospect lies within a structurally complex geological setting east of the historical Wadgingarra mining area. Premier1’s exploration team has pinpointed multiple coincident anomalies in gold and pathfinder elements such as molybdenum, bismuth, tellurium, tungsten, and arsenic, which are rare and encouraging indicators in the region’s goldfields.

Building on a Strong Foundation

Significantly, the nearby Wadgingarra Prospect within the Yalgoo Project hosts a maiden Inferred Mineral Resource of approximately 13,000 ounces of gold at 2.7 grams per tonne. This shallow, near-surface resource remains open along strike and at depth, providing a solid foundation for Premier1’s exploration ambitions.

High-grade rock chip samples collected at Mt Kersey, including standout assays of 26.4 g/t and 14.2 g/t gold, lend strong surface validation to the prospect. Historical drilling in the area was limited and shallow, leaving the core of the target largely untested at meaningful depths. Premier1’s drilling program aims to fill this gap and potentially expand the resource base.

Efficient and Supported Exploration

The drilling campaign is scheduled to commence mid-February 2026, following the completion of all heritage and environmental approvals. Site preparation is complete, with access tracks and drill pads constructed in collaboration with the Yamatji People, the traditional owners of the land.

Premier1 has appointed Strike Drilling, a contractor with extensive experience in Western Australian mineral exploration, to conduct the program using modern, state-of-the-art equipment. The project benefits from $176,000 in drilling credit and $180,000 in co-funding through the Western Australian Government’s Exploration Incentive Scheme, significantly reducing Premier1’s cash outlay while maintaining a high-quality drilling campaign.

Strategic Location and Future Prospects

The Yalgoo Gold Project is strategically positioned within the Yalgoo-Singleton Greenstone Belt, a highly regarded gold province in the Murchison region of Western Australia. The project area is flanked by major gold producers Ramelius Resources and Capricorn Metals, underscoring its potential.

Premier1’s acquisition of 100% ownership of the Yalgoo Project has consolidated its exposure to a large-scale mineralised hub, with multiple high-priority targets like Mt Kersey ready for systematic exploration. The upcoming drilling program will test key structural corridors and geochemical highs identified through recent geological mapping and a 2024 drone magnetic survey, aiming to unlock new discoveries and add value to the project.