Early Copper Sulphide Discovery at Rinaldi Raises Questions on Project Scale

Exploration Breakthrough at Rinaldi

Neometals Ltd (ASX:NMT) has taken a significant step forward in its Barrambie Gold Project with the completion of a first-pass Reverse Circulation (RC) drilling program at the historic Rinaldi copper prospect in Western Australia. The five-hole campaign, totaling 495 metres, has confirmed the presence of primary copper sulphide mineralisation, specifically bornite and chalcopyrite, approximately 70 metres below the surface, beneath the old Rinaldi pit.

This confirmation is pivotal, as it shifts the understanding of the prospect from shallow oxide copper mineralisation to a deeper, potentially more valuable sulphide system. Early assay results from a selective subset of 50 samples, representing about 10% of the total collected, have returned encouraging copper grades, including a standout intercept of 7 metres at 1.72% copper and another of 5 metres at 1.26% copper. These grades, while preliminary, suggest a broader mineralised system may be present at depth.

Historical Context and Geological Insights

The Rinaldi copper prospect has a history of high-grade copper mining dating back to the mid-20th century, with operations focused on shallow open pits and underground workings to about 30 metres depth. Neometals’ drilling has revealed that the copper-bearing quartz vein system thickens with depth, extending to around 7 metres thickness at 70 metres vertical depth. Geological logging also identified a wider mineralised trend up to 15 metres wide, including sulphide minerals adjacent to the quartz vein, which bodes well for the potential scale of the deposit.

These findings align with historic Western Australian mineral exploration reports, but importantly, Neometals’ work is the first modern confirmation of primary sulphide mineralisation at this prospect, which is critical for future resource development and economic extraction.

Next Steps: Geophysical Surveys and Further Assays

With primary copper sulphides confirmed, Neometals is moving swiftly to better define the extent and geometry of the mineralisation. A Dipole-Dipole Induced Polarisation (DDIP) geophysical survey is scheduled to commence in April 2026, covering a 2km by 1km area around the Rinaldi prospect. This survey aims to detect chargeability anomalies that correlate with sulphide mineralisation, helping to prioritise targets for follow-up drilling.

Meanwhile, routine assays for copper, gold, and silver from the remaining 90% of drill samples are ongoing. These results will provide a more comprehensive picture of the mineralisation and guide the next phases of exploration.

Strategic Implications for Barrambie Project

Neometals’ Managing Director Chris Reed highlighted the significance of these results, noting that the confirmation of primary sulphides represents a “key step-change” in understanding Rinaldi’s potential. The company’s broader Barrambie Project, known for its high-grade gold and titanium-vanadium deposits, now also holds promising copper exploration upside. The identification of multiple copper target zones within Neometals’ tenement package further underscores the strategic value of this discovery.

While the economic significance of the mineralisation remains to be fully determined, these early results provide a compelling rationale for continued investment and exploration at Rinaldi, potentially adding a valuable copper component to Neometals’ portfolio of critical materials.