Moonlight Resources Extends Broad Gold Mineralisation at Leo Grande

Phase 2 Drilling Confirms Expanding Gold System

Moonlight Resources Ltd (ASX:ML8) has delivered encouraging assay results from the initial 22 holes of its Phase 2 reverse circulation (RC) drilling at the Leo Grande Prospect, part of the Clermont Gold Project in Queensland. The results confirm broad, near-surface gold mineralisation extending the known strike length of the Leo Grande Shear Zone by up to 250 metres to both the south-east and north-west, underpinning the growing scale of this gold system.

The Phase 2 program, which forms part of a fully funded 20,000-metre drilling campaign, aims to increase drill density and test extensions along strike and at depth in preparation for a maiden Mineral Resource Estimate (MRE). Notably, several holes have ended in mineralisation, highlighting potential for further depth extensions. This builds on Moonlight’s earlier Phase 1 drilling, which validated historical datasets and confirmed consistent gold mineralisation near surface across Leo Grande.

South-Eastern and North-Western Extensions Bolster Resource Potential

Step-out drilling to the south-east has extended mineralisation towards the Leo Grande South area by approximately 200 metres, with broad zones of gold intersected within the interpreted mylonitic shear zone. Similarly, north-western drilling has pushed the mineralised footprint a further 250 metres along strike, with assays showing variable but encouraging grades depending on host rock lithology.

For example, hole LGRC091 returned 18 metres at 1.55 g/t Au from 60 metres, including 3 metres at 7.80 g/t Au, while LGRC105 intersected 40 metres at 1.31 g/t Au from 76 metres, including 5 metres at 3.40 g/t Au from 108 metres. These results affirm the continuity and tenor of mineralisation across a strike length now approaching 850 metres.

Advancing Towards Maiden Mineral Resource Estimate

Managing Director Greg Starr highlighted that the Phase 2 results are a crucial step in defining the scale and continuity of the Leo Grande system. "Several holes have again ended in mineralisation, reinforcing the opportunity to extend the system at depth," he said. The ongoing drilling is designed to support a maiden MRE by increasing drill density and testing for additional parallel lodes within the broader mineralised corridor.

This drilling momentum follows Moonlight’s successful debut on the ASX, where initial results confirmed thick, near-surface gold mineralisation at Leo Grande, setting the stage for accelerated exploration efforts across the Clermont Project. The company’s systematic approach is supported by a strong cash position raised through a recent IPO, enabling extensive drilling and resource definition programs.

Next Drilling Targets and Broader Exploration Plans

Following completion of the Leo Grande Phase 2 program, the RC rig will move to the Goldfinger Prospect for an initial 2,500-metre drilling campaign targeting high-priority gold zones supported by favourable structural settings and historical intersections. Concurrently, exploration activities at the MacDonnell Ranges Project in the Northern Territory will continue, with fieldwork planned later this quarter.

Moonlight’s broader portfolio also includes rare earth and uranium projects across Australia, reflecting a diversified exploration strategy. The company’s technical team, led by experienced geologists, continues to refine geological models and integrate assay data to maximise resource potential.

These developments build on the company’s earlier strong gold hits post-IPO and thick near-surface gold confirmation, reinforcing Moonlight’s position as an emerging gold explorer in Queensland’s prolific Clermont region.