Accent Resources Reports Stable Resources and $9.5M Cash with Ongoing Drilling

Magnetite Range Project Advances with Water Drilling and Infrastructure Planning

Accent Resources NL (ASX:ACS) is steadily pushing forward its flagship Magnetite Range Iron Ore Project in Western Australia's Mid-West region. The ongoing Pre-Feasibility Study (PFS) saw completion of a substantial 63-hole, 5,117.5-metre hydrogeological drilling campaign targeting regional water resources essential for project viability. While many holes intersected groundwater, detailed analysis of flow rates and water quality remains pending, leaving a key input for project development still to be resolved.

Alongside drilling, the company conducted two engineering site visits involving experts across mining, metallurgy, and approvals. These visits shortlisted preliminary locations for critical infrastructure including the process plant, tailings storage, waste dumps, access roads, and accommodation facilities. The siting process is balancing future exploration upside with environmental and heritage considerations, signalling a methodical approach to project design.

Other PFS activities are progressing with mine design and scheduling advancing towards a base case production schedule, while engineering process design develops the process flowsheet. A review and ranking of exploration targets derived from airborne magnetic survey data and historical geological and geochemical information has also commenced, setting the stage for targeted follow-up programs. This builds on the company's earlier steady progress on its Magnetite Range Project pre-feasibility study and aligns with its strategic focus on iron ore development.

Norseman Gold Project Sees New Tenure and Consolidation Efforts

On the gold front, Accent Resources continues to develop its Norseman Gold Project in the Eastern Goldfields. The company acquired a new prospecting licence (P63/2270) during the quarter and has submitted a mining lease application (M63/682) to consolidate several existing tenements, streamlining tenure for future operations. The project hosts a JORC 2004-compliant resource of approximately 1.38 million tonnes grading 1.5 g/t gold for 68,500 ounces, with the majority of the resource shallow and potentially accessible.

These tenure and resource activities complement the company’s ongoing strategy to identify and secure investment opportunities aligned with its corporate objectives, maintaining 100% ownership across all tenements for both projects.

Stable Mineral Resources and Financial Position

There were no changes to the company's iron (magnetite) or gold mineral resources during the quarter, with the Magnetite Range holding a substantial 523.3 million tonnes at 31.3% Fe (JORC 2012), and Norseman maintaining its previously reported gold resources. This stability reflects a focus on advancing project studies rather than expanding resource estimates at this stage.

Financially, Accent Resources ended the quarter with $9.495 million in cash and cash equivalents, down slightly from $9.746 million at the start of the period. Exploration expenditure was $1.071 million, supporting the drilling and study activities. The company also drew $1.5 million in borrowings during the quarter, part of unsecured loans from major shareholders Rich Mark Development Group and Xingang Resources (HK) Limited, underpinning its funding base. Payments to related parties, including directors’ remuneration, totalled $123,000.

This financial footing follows a pattern of measured spending and funding support, consistent with the company’s recent strong cash position and exploration investment and reflects a cautious but deliberate approach to advancing its projects.