ASX Monitors Truscott’s Westminster Drilling Progress Amid Compliance Watch

Exploration Resumes at Westminster

Truscott Mining Corporation Limited has officially kicked off its reverse circulation (RC) drilling program at the Westminster Project, marking a significant step forward in its exploration efforts. The company announced that drilling began on 10 February 2026 and that the first hole has already been completed. This progress comes after a period of regulatory scrutiny from the Australian Securities Exchange (ASX), which had flagged compliance concerns earlier in 2025.

ASX Compliance and Monitoring

In August 2025, the ASX issued a formal query regarding Truscott’s operational activity under Listing Rule 12.1, which requires listed entities to maintain a certain level of activity or provide continuous disclosure to avoid suspension. The ASX’s latest correspondence, dated February 2026, indicates that while the exchange will continue to monitor Truscott’s disclosures and exploration progress, it does not intend to suspend the company as of 15 February 2026. This reprieve provides Truscott with a critical window to demonstrate tangible progress and maintain investor confidence.

Timeline and Expectations

Truscott expects the drilling program to be completed within approximately three weeks, weather permitting. However, the timeline for receiving assay results, the chemical analysis that determines the mineral content of the samples, could extend to six to eight weeks after drilling concludes. This delay is attributed to current exploration activity levels across Australia, which have impacted laboratory processing times. Investors will be keenly watching these assay results as they will provide the first substantive indication of the Westminster Project’s potential.

Strategic Implications

The commencement of drilling and the ASX’s decision not to suspend Truscott are positive signals for the company’s future. It suggests that Truscott is moving beyond a period of uncertainty and regulatory pressure toward a phase of active exploration and potential value creation. However, the company’s ability to deliver meaningful assay results and maintain transparent communication will be crucial in sustaining market confidence.

Looking Ahead

With the Westminster drilling underway and regulatory concerns temporarily eased, Truscott Mining stands at a pivotal juncture. The coming weeks and months will be critical as the market awaits assay results and further updates on exploration progress. How the company navigates this period could define its trajectory in the competitive Australian mining sector.