Australasian Metals Targets New Gold Prospects with Retro Creek Permit Application

Strategic Expansion in Central Queensland

Australasian Metals Limited (ASX: A8G) has taken a decisive step to broaden its gold exploration footprint in Central Queensland with the submission of a new Exploration Permit Application (EPM 29434), dubbed 'Retro Creek'. This application, lodged on 19 February 2026, surrounds the company’s 100%-owned Mt Clermont and Capella projects, areas already known for their promising gold mineralisation.

The Retro Creek tenement lies within the Anakie Province of the Drummond Basin, a geological setting favourable for various gold deposit styles including epithermal and shear-zone-hosted gold, as well as polymetallic mineralisation. This region is historically significant, hosting deposits like Pajingo and Vera Nancy, and Australasian Metals is leveraging its established expertise and prior success here.

Building on Proven Resources

Australasian Metals’ confidence is underpinned by its maiden JORC-compliant Inferred Resource of 63,600 ounces of gold at 1.13 grams per tonne, defined at the Ayres Rock and Retro Extended deposits on adjacent tenements. Managing Director Dr Qingtao Zeng emphasised the strategic timing of this expansion, noting the advantage of strong gold prices and the company’s deep regional knowledge. He highlighted several high-priority targets within the new application area, including Torrendorah, Carramah, Hazeldeen, and Burns Dam prospects.

Promising Prospects with Historical Anomalies

The Retro Creek area hosts multiple advanced exploration targets with encouraging historical data. For instance, the Torrendorah Prospect has yielded grab samples with up to 7.3 g/t gold and significant silver and base metal values, while Carramah shows strong chargeability anomalies from past geophysical surveys, suggesting potential mineralised intrusions. Hazeldeen and Burns Dam prospects also present notable gold and alteration signatures, although none have yet been drilled by Australasian Metals.

The company plans a systematic exploration approach starting with geological mapping and rock-chip sampling to refine targets, followed by soil geochemistry surveys to extend known anomalies. Ground geophysical surveys, such as induced polarisation and resistivity, are intended to delineate subsurface structures beneath basalt and soil cover. Ultimately, drilling will follow once access and regulatory approvals are secured.

Geological Context and Exploration Outlook

The Retro Creek tenement covers complex geology including the Anakie Metamorphic Group and Devonian granitoids, with major fault systems that have historically controlled mineralisation. The presence of thick basalt cover and clay-rich soils poses exploration challenges but also opportunities for modern geophysical techniques to uncover concealed deposits.

This expansion aligns neatly with Australasian Metals’ broader strategy to grow its Central Queensland gold portfolio amid a favourable market environment. The company’s methodical, data-driven approach combined with its regional expertise positions it well to unlock value from these newly acquired exploration grounds.