Exultant Mining has defined a large polymetallic soil anomaly at Peak View, backed by geophysical surveys that sharpen drill targets ahead of maiden drilling. High-grade gold and silver-lead results at Undoo Creek and Big Badja add to the project's growing promise.
- 900m Cu-Pb-Zn-Ag-Au soil anomaly at Peak View
- Completion of IP and gravity surveys refines drill targets
- High-grade gold up to 50.9g/t at Undoo Creek
- Big Badja silver-lead mineralisation confirmed with open depth anomaly
- Black Hammer tenure expanded with key land access secured
Polymetallic Anomaly at Peak View Sets Stage for Drilling
Exultant Mining (ASX:10X) has outlined a substantial 900-metre-long copper-lead-zinc-silver-gold soil anomaly at its Peak View Prospect in New South Wales, confirming a polymetallic system with strong volcanogenic massive sulphide (VMS) characteristics. The anomaly, which broadens southwards where historical drilling is sparse, was delineated through a 351-sample soil geochemical survey, revealing peak values of 694ppm copper, 1,250ppm lead, 1,245ppm zinc, 0.27g/t gold, and 3.54g/t silver. Elevated pathfinder elements such as thallium and antimony further endorse the VMS affinity of the system.
Following the soil program, Exultant completed dipole-dipole induced polarisation (IP) and ground gravity surveys designed to detect sulphide-related chargeability and density anomalies beneath the soil anomaly. These geophysical datasets, combined with reprocessed historic magnetic data, have identified multiple high-priority drill targets including a strong coincident chargeability-resistivity anomaly and a western chargeability-gravity anomaly adjacent to the Peak View Thrust. The company plans to commence maiden drilling imminently, aiming to test these refined targets and validate the system's scale and grade continuity.
High-Grade Gold and Silver-Lead Confirm Broader Project Potential
At the Undoo Creek prospect, systematic geological mapping and additional rock chip sampling have expanded the known mineralised quartz vein system to a 360-metre strike length. Rock chip assays returned high-grade gold values up to 50.9g/t, with multiple samples exceeding 5g/t along the vein network. Structural interpretations suggest potential for high-grade plunging shoots at vein intersections, though grade continuity remains to be established through drilling.
Meanwhile, at the historic Big Badja Silver Mine, further rock chip sampling confirmed high-grade silver-lead mineralisation, including a standout 339g/t silver, 1.8% lead, and 0.4g/t gold assay from mullock near the shaft. A trial IP survey identified a chargeability anomaly beneath the mine workings that remains open at depth, providing a valuable vectoring tool for future exploration. Plans are underway to expand IP coverage and assess geophysical targets along a 3-kilometre lead-zinc soil anomaly north of Big Badja.
Black Hammer Project Expands with Land Access Progress
Exultant also advanced its Black Hammer Project, securing provisional approval for Exploration Licence Application ELA7018 immediately north of existing tenure, strengthening its regional position. A key land access agreement was executed at the Watsons Prospect, enabling planned follow-up geochemical and geophysical programs. Additionally, the company sampled historic drill core from the Tuglow Copper Mines to support prospectivity assessments and prioritise exploration efforts across the broader Black Hammer area.
Financial Position and Next Steps
As at 31 March 2026, Exultant held A$3.785 million in cash with no debt, providing a runway of approximately 8.3 quarters at current expenditure levels. The company spent A$236,000 on exploration during the quarter, focusing on advancing its NSW projects. Upcoming activities include ranking and refining drill targets at Peak View, expanding geological mapping and rock chip sampling at Undoo Creek, extending IP surveys at Big Badja, and continuing land access negotiations at Black Hammer.
The imminent maiden drilling campaign at Peak View is a pivotal catalyst for Exultant, with the potential to confirm the scale and grade of the polymetallic system. Given the early-stage nature of the project, assay results and drill outcomes will be critical to validating the encouraging geochemical and geophysical signatures observed to date.
Exultant’s systematic approach to exploration, combining detailed geochemical surveys with targeted geophysics and structural interpretation, is positioning the company to unlock value across multiple prospects in the Lachlan Orogen. The integration of historic data with new field programs underscores a disciplined strategy to de-risk and prioritise drill targets in a competitive NSW exploration landscape.
Investors will be watching closely as Exultant transitions from surface sampling and geophysics to drilling, which will provide the first direct test of the polymetallic system’s economic potential and inform the next phase of project development.
These developments build on the company’s earlier work, including the multiple high-priority drill targets identified at Peak View, and the high-grade silver system at Big Badja confirmed last quarter, reinforcing the prospectivity of Exultant’s NSW portfolio. The recent 50.9 g/t gold assays at Undoo Creek add further momentum ahead of drilling.
Bottom Line?
Maiden drilling at Peak View is imminent, with assay results set to determine whether Exultant’s polymetallic anomaly translates into a viable deposit.
Questions in the middle?
- Will maiden drilling at Peak View confirm the continuity and grade of the polymetallic system?
- Can expanded IP surveys at Big Badja delineate extensions of the high-grade silver-lead mineralisation at depth?
- How quickly can land access and exploration progress at Black Hammer unlock its prospective targets?