Accelerate Resources has unveiled a significant new shallow gold discovery at its Balagundi project, defining a 300m mineralised strike at Spencers Prospect and setting the stage for imminent RC drilling.
- New 300m gold mineralised strike at Spencers Prospect
- Notable shallow intercepts up to 28m at 1.01g/t Au
- Discovery validates recent ground consolidation strategy
- Follow-up RC drilling planned post-permitting
- Additional anomalous gold zones detected across Balagundi
Second Major Gold Trend Emerges at Balagundi
Accelerate Resources Limited (ASX:AX8) has struck gold again at its Balagundi Gold Project, revealing a second new mineralised trend at the Spencers Prospect. The Phase 2 aircore drilling program has delineated a coherent north-south striking gold structure stretching approximately 300 metres, with mineralisation remaining open both down-dip and along strike. This discovery follows the earlier Delta Trend find, reinforcing Balagundi’s potential as a multi-structured gold system.
Key shallow intercepts include 28 metres at 1.01 grams per tonne (g/t) gold from 36 metres, featuring higher-grade intervals of 8 metres at 1.78g/t and 8 metres at 1.37g/t, alongside a 20-metre intercept at 0.76g/t with an 8-metre section at 1.42g/t. These broad and continuous zones are significant given the project's underexplored nature and the limited modern drilling that has historically constrained previous exploration effectiveness.
Strategic Ground Consolidation Paying Off
The Spencers discovery lies within recently acquired tenure, mining lease M25/92, which Accelerate now owns 100%. CEO Luke Meter highlighted that the strongest assay results came from this newly consolidated ground, validating the company’s strategy to expand its project footprint aggressively. The discovery adds weight to the thesis that Balagundi hosts multiple mineralised corridors beyond the historic workings, many of which have seen little modern exploration.
Accelerate completed 59 aircore holes for 3,614 metres in this Phase 2 program, targeting extensions of the Paris Gift–Delta Trend corridor and new prospects including Spencers and Catrock. The Spencers results stand out, but the program also returned other encouraging anomalous gold intercepts, such as 4 metres at 1.75g/t Au from 32 metres at a hole interpreted to lie along the Paris Gift extension. This broader mineralisation footprint will be refined through ongoing targeting and follow-up drilling.
Upcoming RC Drilling to Test Depth and Grade Potential
With permitting underway, Accelerate plans to commence reverse circulation (RC) drilling at Spencers in the coming weeks. The upcoming program aims to test the mineralised structure down-dip and along strike, with a focus on identifying potential higher-grade shoots within the broader envelope. Drilling at the Delta Trend, the first new mineralised corridor discovered by the company at Balagundi, is scheduled to follow shortly after.
Meanwhile, infill drilling at Catrock is planned to better define RC targets, and assay results are pending from a recent 1,473-metre aircore program at the Fluffy Prospect, which showed encouraging alteration signatures suggesting proximity to gold mineralisation. These developments indicate a busy exploration pipeline ahead as Accelerate systematically tests Balagundi's multiple gold-bearing structures.
Balagundi’s Geological Setting and Exploration Upside
Situated just 15 kilometres east of Kalgoorlie within the Norseman–Wiluna greenstone belt, Balagundi benefits from a geological setting known for orogenic gold deposits. The project hosts a package of basalts, dolerites, sediments, and felsic intrusives with gold mineralisation associated with key structural corridors and historic workings. Despite its proximity to major gold mining districts, Balagundi remains underexplored, presenting a compelling opportunity for discovery-driven exploration.
Accelerate’s recent progress builds on earlier successes, including the discovery of the Delta Trend and encouraging shallow RC drilling results at Paris Gift. The company’s approach combines targeted drilling with strategic land acquisition, positioning it to unlock value from multiple gold corridors within the project area. The results from Phase 2 aircore drilling and the upcoming RC programs will be pivotal in defining the scale and economic potential of these discoveries.
These new findings and the methodical exploration strategy are detailed in the company’s recent Phase 2 RC drilling results and build on the broader momentum from the multiple gold trends confirmed at Balagundi. Meanwhile, the pending assay results from the Fluffy Prospect, where drilling resumed after decades, will provide further insight into Balagundi’s potential to host significant gold mineralisation Fluffy Prospect drilling resumption.
Bottom Line?
Accelerate Resources’ Spencers discovery underscores Balagundi’s emerging status as a multi-structured gold project, with upcoming RC drilling set to test the true scale and grade of these promising mineralised trends.
Questions in the middle?
- Will the upcoming RC drilling at Spencers confirm higher-grade shoots within the broad mineralised envelope?
- How will assay results from the Fluffy Prospect influence the prioritisation of targets within Balagundi?
- Can Accelerate’s ground consolidation strategy continue to unlock new mineralised trends beyond Spencers and Delta?