Albright Metals Advances Canadian Gold Project with High-Grade Drilling and $1.8M Tenement Sale

Golden Pike Drilling Confirms High-Grade Gold Continuity

Albright Metals (ASX:ABR) has reinforced the high-grade potential of its Golden Pike Project in New Brunswick, Canada, with recent assay results from its 2025 drilling campaign delivering impressive gold intercepts. Highlights include a standout 6.27 metres at 33.74 grams per tonne (g/t) gold from 54.43 metres, alongside multiple other intercepts exceeding 10 g/t Au. These results support the existence of a robust vein system near surface and validate historical drilling data, underpinning the company’s plans for an updated resource model.

The company has now completed its winter exploration drilling program, which also targeted high-grade antimony veins, a critical metal increasingly sought after in global supply chains. Assay results from this program are expected shortly, potentially adding a new dimension to the project’s value. This follows earlier work that identified exceptionally high-grade antimony rock chip samples at the Bond Road Prospect, with assays up to 57% Sb.

Strategic Shift Through Bryah Basin Tenement Sale

In a move to sharpen its strategic focus, Albright Metals completed the sale of a portion of its Bryah Basin tenements in Western Australia to Catalyst Metals (ASX:CYL) for $1.8 million in cash and shares during the quarter. The deal includes an option for Catalyst to acquire the remaining tenements for an additional $2.2 million, excluding manganese mineral rights retained by Albright as part of a joint venture with OM Holdings Limited.

The transaction strengthens Albright’s balance sheet, providing vital funding to advance its Canadian assets. The sale builds on earlier announcements where the company secured $1 million from Catalyst Metals, reflecting a deliberate shift away from Australian tenements to concentrate on high-impact exploration in Canada. This strategic repositioning is evident in the company’s exploration expenditure, with $622,000 spent on Golden Pike during the quarter, compared to minimal outlays on other projects.

Heritage and Environmental Foundations for Development

Recognising the importance of responsible development, Albright Metals has engaged Indigenous consulting firm Mokwateh to guide its engagement with First Nations communities in New Brunswick. This early and ongoing dialogue is critical for securing social licence and aligns with best practices in Canadian mining.

Environmental assessments conducted by SLR Consulting have been completed around the Vail Road deposit, laying the groundwork for future permitting and mine development. The proximity of the Golden Pike Project to road, rail, and port infrastructure enhances its logistical appeal for both North American and European markets.

Financial Position and Outlook

Albright Metals ended the quarter with $1.25 million in cash and liquid assets comprising 105,387 Catalyst Metals shares and 7 million shares in Star Minerals (ASX:SMS). The company’s capital structure includes over 1.4 billion ordinary shares and listed options trading under code ABRO, reflecting ongoing efforts to maintain funding flexibility.

With no production activities during the quarter, the company’s focus remains firmly on exploration and resource development. CEO Greg Hill emphasised that the divestment of non-core Australian tenements allows the company to concentrate capital and management resources on its high-impact Canadian projects. The exceptional gold results at Golden Pike, combined with upcoming assay data and resource model updates, set the stage for potential value uplift.

These developments follow the company's recent high-grade gold continuity confirmation, which further substantiates the Vail Road deposit’s potential and supports the forthcoming JORC Mineral Resource Estimate.