Premier1 Lithium Launches 3,700m Drilling Campaign at Mt Kersey Gold Prospect

Premier1 Lithium Advances Exploration at Mt Kersey

Premier1 Lithium Limited (ASX, PLC) has commenced a 3,700-metre reverse circulation drilling program at its Mt Kersey Prospect, a key target within the company’s 100%-owned Yalgoo Gold Project in Western Australia. This marks a major step forward following Premier1’s recent acquisition of the project, which lies in a highly prospective gold district known for its rich mineral endowment.

The Mt Kersey Prospect is situated within a 5 square kilometre zone of known mineralisation and is characterised by a preserved hydrothermal system exhibiting multi-element anomalies including molybdenum, bismuth, tellurium, tungsten, and arsenic. These pathfinder elements often accompany significant gold deposits, making the area a compelling target for exploration.

Targeting Untested Structural and Geochemical Zones

Historical drilling at Mt Kersey was shallow and limited, failing to adequately test the main structural and geochemical targets identified by Premier1’s recent detailed analysis. The current program aims to drill beneath a large gold-in-soil anomaly that extends over 300 by 200 metres, along with coincident pathfinder element anomalies, to assess the potential for high-grade gold mineralisation at depth.

Exploration Manager Paul Smith highlighted the significance of the preserved hydrothermal system and the large surface anomaly, noting that these features are consistent with those seen in major deposits within the Yilgarn Craton. The drilling campaign is designed to unlock this potential, with assays expected to follow within weeks of hole completion.

Strategic Funding and Project Positioning

The drilling program benefits from co-funding of up to $180,000 through the Western Australian Government’s Exploration Incentive Scheme, which significantly reduces Premier1’s cash outlay and supports efficient, high-quality exploration. This non-dilutive funding underscores government confidence in the project’s potential.

Premier1’s Yalgoo Gold Project is strategically located within the Yalgoo-Singleton Greenstone Belt, a prolific gold-producing region in Western Australia. The company also holds the nearby Wadgingarra Gold Project, which hosts a maiden inferred resource of 150,000 tonnes at 2.7 grams per tonne gold for approximately 13,000 ounces. Together, these assets position Premier1 well within a mineralised hub with multiple exploration targets.

Outlook and Market Implications

With drilling underway, Premier1 is poised to deliver critical data that could reshape the understanding of gold mineralisation at Mt Kersey. The results will be closely watched by investors and analysts eager to see if the preserved hydrothermal system translates into economically viable gold resources. Success here could significantly enhance Premier1’s profile and valuation within the competitive Western Australian gold exploration sector.