G11 Resources has completed a $7.5 million capital raise and is aggressively pursuing copper-gold exploration in Tasmania and NSW, with over 900 metres drilled at Sedgwick Bluff and fresh EM anomalies identified at the Linda project.
- Completed second tranche of $7.5 million capital raising
- Over 900 metres drilled at Sedgwick Bluff targeting Zig Zag CSAMT anomaly
- New EM anomalies defined at Linda project offering additional drill targets
- Ionic Leach soil sampling underway at Packsaddle in NSW
- Cash balance of $6.93 million supports ongoing exploration
Drilling Momentum Builds at Sedgwick Bluff
G11 Resources (ASX:G11) has ramped up its copper-gold exploration efforts with more than 900 metres of diamond drilling completed by the end of March 2026 at the Sedgwick Bluff project in Tasmania's Mt Read Volcanic belt. The program targets the highly prospective Zig Zag CSAMT anomaly, located adjacent to the Great Lyell fault; a geological setting that hosts the Mt Lyell mine, operated by Sibanye Stillwater, just 800 metres along strike to the south. Drilling remains ongoing, with an initial plan to test approximately 2400 metres of this anomaly.
The Zig Zag target stands out due to its structural similarities with Mt Lyell, where CSAMT geophysics have proven effective in delineating ore bodies. The anomaly is positioned near a major fold in the Great Lyell fault, considered an ideal conduit for mineralising fluids. G11's technical team is also eyeing other high-priority zones like the NE Pyrite area for upcoming drilling campaigns.
New EM Anomalies Expand Linda Project Potential
Further bolstering its Tasmanian portfolio, G11 Resources has defined new electromagnetic (EM) anomalies in the northern part of its recently acquired Linda project (EL6/2024). These anomalies, situated in the underexplored Comstock valley, add to the copper-gold drill targets beyond the Zig Zag anomaly currently being tested. The EM anomalies lie at a structural intersection involving the Great Lyell fault and a northwest-southeast fault, both key controls for mineralisation in the region.
G11 plans to seek drilling approvals from Mineral Resources Tasmania to test these fresh targets. The company has also submitted three applications for the Tasmanian Government’s Round 12 Exploration Drilling Grant Initiative, which could co-fund drilling costs up to $100,000 per project, plus additional support for helicopter logistics.
Soil Sampling at Packsaddle Targets Tier 1 Gold-Copper Anomaly
In New South Wales, G11 has initiated an Ionic Leach soil sampling program at the Packsaddle project to extend coverage over the Kings Hill anomaly; a large gravity and magnetic feature along the Oleopoku fault. This target is considered Tier 1 due to its scale and orogenic gold/intrusive-related copper-gold potential, yet it remains untested by drilling. Although heavy rainfall curtailed sampling late in the quarter, initial results from the prior orientation survey were promising.
Capital Raising Bolsters Exploration War Chest
Supporting these exploration advances, G11 Resources completed the second tranche of a $7.5 million capital raising during the quarter, issuing over 12.7 million shares and netting $3.19 million. The company ended the quarter with a cash balance of $6.93 million, providing ample runway for drilling and technical programs across its Tasmanian and New South Wales assets.
This progress follows G11’s earlier announcements detailing the acquisition of key tenements and the identification of the Zig Zag anomaly near Mt Lyell, setting the stage for a busy 2026 exploration season new copper-gold targets. While the geological parallels with Mt Lyell are encouraging, G11 cautions that these do not guarantee discovery or resource delineation.
Bottom Line?
G11’s expanding drill programs and fresh targets position it well to test Tier 1 copper-gold prospects, but upcoming assay results and approvals will be critical to validating these early-stage opportunities.
Questions in the middle?
- Will the ongoing Sedgwick Bluff drilling confirm the presence of economically viable mineralisation beneath the Zig Zag anomaly?
- How will the newly identified EM anomalies at Linda influence G11’s exploration priorities and capital allocation?
- What impact could government co-funding grants have on accelerating G11’s drilling programs in Tasmania?