CZR Resources Expands Drilling to Target High-Grade Gold Shoots at Croydon

Drilling Resumes to Extend Gold Mineralisation at Top Camp and Bottom Camp

CZR Resources Ltd (ASX:CZR) has kicked off an extensive new drilling program at its Croydon Gold Project in Western Australia's Pilbara, aiming to build on the significant gold system identified over a 650-metre strike at the Top Camp prospect. The renewed RC drilling campaign is designed to extend shallow gold mineralisation along strike and to delineate higher-grade ore shoots plunging northeast, with drilling expected to take 4-6 weeks including initial testing at Bottom Camp, which has not been drilled since 2020.

This program follows last year's breakthrough results, which included notable intersections such as 51 metres at 1.3 grams per tonne (g/t) gold and narrower high-grade zones like 8 metres at 10 g/t gold, confirming a robust and open mineralised system. CZR’s focus on these high-grade shoots is informed by improved geological understanding from the 2025 drilling, which revealed structural controls and fold closures guiding mineralisation. The company anticipates assay results from this phase by June 2026, continuing the momentum from its earlier shallow high-grade gold at Croydon findings.

Diamond Drilling to Support Metallurgical and Structural Insights

Complementing the RC drilling, diamond drilling will target core recovery for metallurgical testwork and detailed geological data collection. A deeper diamond hole is planned beneath the main mineralised lodes at Top Camp to investigate the source of a gravity and magnetic anomaly unresolved in prior RC drilling. This approach aligns with the search for “Hemi-style” intrusions, akin to the nearby Northern Star Resources’ 11.2 million ounce Hemi deposit located just 50 kilometres east, which is hosted in mineralised intrusions beneath Mallina sediments. Such intrusions remain a key targeting criterion across Croydon’s prospects.

Expanding Exploration Across Western and Eastern Blocks

Beyond Top Camp and Bottom Camp, CZR is advancing exploration across its extensive 40-kilometre strike project. In the Western Block, geological mapping and surface sampling are underway to fill gaps between known prospects, while aircore drilling will expand the geochemical dataset to define new drill targets at underexplored areas such as Frank’s Patch and Middle Valley. These zones have seen minimal historical drilling, presenting early-stage but promising targets for intrusion-related gold systems.

The Eastern Block exploration focuses on margins of a central intrusion where gold and copper mineralisation have been identified at the Martin and Murph prospects. Planned drilling includes stratigraphic holes and tests of an electromagnetic conductor beneath the Martin gossan, which previously returned significant copper (11.6%), gold (2.8 g/t), silver (31 g/t), and zinc (7.4%) assays. This area bears geological similarities to the nearby Anax Metals’ Evelyn copper deposit, located seven kilometres west. CZR is also targeting the Baskerville area with aircore drilling to explore bedrock beneath transported cover, a tactic that proved successful in the Hemi discovery. These efforts build on the company’s strategy to identify additional intrusion-related mineralisation across Croydon, as outlined in its major gold discovery at Croydon’s Top Camp announcement earlier this year.

Strong Financial Position Supports Aggressive Exploration

CZR enters this phase of exploration well capitalised, holding $67 million in cash and free of debt, providing flexibility to pursue multiple targets simultaneously. The company’s Managing Director Stefan Murphy highlighted the value of last year’s drilling in refining targeting strategies and expressed confidence in the potential for further discoveries across the project’s extensive landholding. The program’s success hinges on upcoming assay results and metallurgical testwork, which will inform resource potential and guide subsequent drilling campaigns.