Truscott Mining Advances Westminster with Confirmed Gold Mineralisation and Lease Expansion

February Drilling Validates Structural Model at Westminster

Truscott Mining Corporation Limited (ASX:TRM) has delivered its first tranche of assay results from the February 2026 reverse circulation (RC) drilling campaign at its wholly owned Westminster Project near Tennant Creek, Northern Territory. The maiden drilling focused on Orebody Exploration Target Two (OB2) and confirmed zones of shear-hosted gold mineralisation, with four intercepts exceeding 0.5 grams per tonne (g/t) gold. Notably, drill hole 26WMRC135 returned 1.42 g/t Au over two metres, including a standout one-metre interval at 2.4 g/t Au.

While mineralisation grades are broadly low to moderate, the results reinforce the structural geology model that has guided Truscott’s decade-long research and development efforts. The 29 intercepts above 0.1 g/t Au across six drill holes provide a substantial dataset to refine the placement of exploration targets and support the company’s fractal mathematics-driven predictive modelling.

Operational Challenges and Shift to Diamond Drilling

The drilling campaign faced logistical hurdles, including mechanical issues with the rig and wet weather restricting pad access. These factors, combined with complex ground conditions such as magnetite-rich zones and shear structures, caused significant drill hole deviation. Truscott mitigated these challenges with drill stabilisers and adjusted drill angles but plans to transition to diamond core drilling for future programs, aiming to better target high-grade mineralisation within Orebody Exploration Target One (OB1).

This strategic pivot aligns with the company’s intention to enhance resource definition ahead of an updated JORC 2012 Mineral Resource Estimate. The diamond drilling will also expand the structural and geochemical database, which has been critical to Truscott’s unique approach combining geological mapping with applied fractal mathematics.

Corporate Restructuring and Tenure Expansion

Alongside operational progress, Truscott has bolstered its leadership team with the appointments of Rebecca Girdwood as Director and Jonathan Stokes as Project Manager (Geology/Hydrogeology). Executive Chairman Peter Smith described the start of 2026 as “transformational,” highlighting a shift from a research-focused entity to one building operational capacity and governance.

Management has also initiated legal processes to convert additional tenure blocks to mining leases, a critical step towards advancing Westminster from exploration to development. This move, supported by engagement with Traditional Owners and compliance with Northern Territory mineral title legislation, signals Truscott’s commitment to securing long-term operational stability.

The company’s recent drilling campaign and corporate developments follow the earlier Westminster drilling program launch and capital raising efforts to fund exploration announced in January 2026. These milestones collectively underscore a concerted push to unlock the project’s potential within the prolific Tennant Creek Mineral Field.

Structural Geology and Fractal Mathematics Drive Targeting

Truscott’s decade of R&D has focused on the structural controls of mineralisation in the Tennant Creek Mineral Field, applying concepts of energy distribution and fractal mathematics to predict orebody locations. The company’s modelling identifies repeating corridors of folding and shear zones trending approximately 070°, with mineralisation concentrated in dilation and cross-shear zones.

The February drilling results at OB2 have refined the interpreted core zone, shifting it up to 130 metres west along the shear corridor. This adjustment is significant for targeting and supports the bimodal distribution of gold grades observed at OB1, where higher-grade zones (>0.5 g/t Au) are spatially distinct from broader lower-grade mineralisation.

Such insights will inform the upcoming diamond drilling campaign and resource estimation, potentially enhancing the economic viability of Westminster’s mineralisation style, which is atypical Iron Oxide Copper Gold (IOCG) hosted within the Warramunga Formation.