Exultant Mining Advances Peak View with Multiple High-Priority Drill Targets

Geophysical Surveys Define New Drill Targets

Exultant Mining Limited (ASX:10X) has reported results from recently completed induced polarisation (IP) and ground gravity surveys at its Peak View Prospect, part of the broader Peak View Project in New South Wales. The surveys were designed to test a previously identified 900-metre-long multi-element soil anomaly characterised by copper, lead, zinc, silver, and gold.

The IP survey comprised four east-west oriented lines, each 1.6 kilometres in length and spaced 200 metres apart, while the ground gravity survey included 136 stations on a 100m x 100m grid. Integration of these new datasets with reprocessed historic airborne magnetic-radiometric data has materially improved the understanding of the structural framework at Peak View and identified multiple high-priority drill targets.

Key Anomalies and Structural Insights

The IP survey delineated four significant areas of interest: a western chargeability anomaly approximately 700 metres long that remains untested by drilling; a strong coincident chargeability and resistivity high beneath the main soil anomaly; a resistivity low anomaly down-dip of known massive sulphides; and a discrete chargeability anomaly on the sediment-granite contact to the east.

Notably, the western chargeability anomaly, which exceeds 12 milliseconds in chargeability, coincides with a 1.1-kilometre gravity high adjacent to the Peak View Thrust fault. This structural feature is interpreted as the southern continuation of the Narongo Fault, a major mineralising conduit that hosts the Captains Flat Volcanogenic Massive Sulphide (VMS) deposit and over 30 mineral occurrences along strike. The coincidence of chargeability and gravity highs suggests potential sulphide accumulation or dense alteration within a structurally favourable setting.

Historical Drilling Context and New Opportunities

Historical drilling at Peak View has intersected high-grade mineralisation, including notable intercepts such as 4.4 metres at 342.7 g/t silver, 4.0% lead, and 1.1% copper. However, these drill holes targeted weaker chargeability responses around 8 milliseconds, whereas the newly defined western anomaly shows stronger chargeability values and remains untested. Additionally, a resistivity low anomaly down-dip from one of the best historical intercepts offers a further follow-up target.

Exultant Mining’s Executive Chairman, Brett Grosvenor, highlighted the significance of these findings, stating that the geophysical surveys provide a broader structural framework comparable to major VMS deposits like Woodlawn and Captains Flat. He emphasised the strong coincident chargeability and resistivity response as a compelling drill target underpinning confidence in a potential new discovery at Peak View.

Upcoming Drilling Program and Project Outlook

The company has lodged a drilling application for 15 holes with the Resource Regulator and is finalising drill hole design and contractor arrangements. The maiden drilling campaign is scheduled to commence in late April 2026, aiming to test the high-priority targets defined by the recent geophysical work.

This development follows Exultant Mining’s earlier identification of a 900-metre multi-element soil anomaly at Peak View, which laid the groundwork for the current geophysical surveys and drill planning. The ongoing exploration progress at Peak View complements recent advances at other company prospects, such as the high-grade silver system uncovered at Big Badja, where a new geophysical anomaly remains open at depth, indicating potential extensions Exultant Mining Uncovers High-Grade Silver and Open Depth Target at Big Badja.

Overall, the combination of favourable structural architecture, strong surface geochemical anomalism, and multiple untested geophysical anomalies materially upgrades the prospectivity of Peak View and supports the upcoming priority drill testing.