Star Minerals Extends High-Grade Gold Zone at Tumblegum South with New Drilling

High-Grade Gold Extends Beyond Current Pit Limits

Star Minerals Limited (ASX:SMS) has reported compelling assay results from reverse circulation (RC) drilling at its Tumblegum South Gold Project, confirming the presence of shallow, high-grade gold mineralisation extending west of the existing scoping study pit design. The standout intercept came from hole TGRC086, which returned 4 metres at 12.72 grams per tonne (g/t) gold from 46 metres depth, including a blistering 1 metre at 46.70 g/t Au. Additional noteworthy intercepts include 2 metres at 7.67 g/t Au in hole TGRC092, reinforcing the continuity of mineralisation in this western extension zone.

These results follow an earlier drilling program in 2025 that first identified promising mineralisation in this area, and the March 2026 follow-up drilling was designed both to test the down-plunge extension of the deposit and to sterilise land earmarked for waste rock dumps ahead of mine development. The new data indicate multiple steeply dipping lodes with an east-west strike orientation, distinct from the shallower southern pit lodes, suggesting a more complex structural setting that could add valuable ounces near surface.

Implications for Resource Growth and Mine Planning

Managing Director Ashley Jones emphasised the significance of the assays, stating that the results “continue to demonstrate the strong potential to grow shallow, high-grade gold mineralisation beyond the current pit design.” He highlighted the exceptional grade continuity visible in TGRC086 and noted that these findings support Star Minerals’ strategy to prioritise near-surface ounces that can improve mine planning and project economics.

The company plans to incorporate the new drilling data into an updated mineral resource estimate and mine plan in the coming weeks. This update will build on previous work, including the positive scoping study published in May 2024, which outlined a production target ranging from 11,800 to 15,900 ounces of gold with robust cash flow projections at gold prices between A$3,000 and A$3,800 per ounce.

These latest results dovetail with the recent strong gold grades confirmation from MEGA Resources’ grade control drilling, which validated the geological model and mineralisation continuity across the deposit. Together, the data sets underpin the company’s confidence as it moves towards production, targeted for early 2026.

Development Backed by Approvals and Strategic Partnerships

Tumblegum South has secured all critical regulatory approvals, including the Native Vegetation Clearing Permit and mining approval from the Western Australian government. Star Minerals has also signed a Right to Mine Agreement with MEGA Resources and Bain Global Resources, providing funding and operational support for mining activities. A toll treatment agreement with Catalyst Metals (ASX:CYL) further secures processing capacity, reflecting a well-structured pathway to production.

With the project economics looking robust under current gold price assumptions, Star Minerals is positioned to capitalise on these favourable conditions. The extensional drilling results add a fresh layer of potential resource upside, particularly given the high-grade nature of the intercepts near surface, which could translate into improved mine sequencing and cash flow.

While the current drilling grid has illuminated promising mineralisation, the company notes that some holes at the southern fringe may have missed the target zone, and further infill drilling is planned to better define the size and tenor of the western extension. The true widths of intercepts remain uncalculated, and the structural complexity warrants ongoing evaluation.