Golden Dragon Drills 12m at 6.5 g/t Gold at Coodardy with New Orientation Found

High-Grade Gold Intersections Reinforce Coodardy’s Potential

Golden Dragon Mining Ltd (ASX:GDR) has reported compelling results from its second phase of reverse circulation (RC) drilling at the Coodardy Prospect within the Cue Gold Project in Western Australia’s Murchison Goldfields. The standout intercept includes 12 metres at 6.50 g/t gold from 44 metres, highlighted by a 4-metre section grading 17.60 g/t Au. This high-grade shoot aligns with previous drilling, reinforcing the continuity of a coherent gold system at Coodardy.

These results build on the company’s earlier successes, confirming multiple broad zones of gold mineralisation with consistent grades from shallow depths. For example, hole 26CD001 returned 28 metres at 1.00 g/t Au from surface, including 12 metres at 1.90 g/t Au, while other holes like 26CD004 and 26CD012 also delivered strong intersections near surface. This continuity affirms the prospect’s potential for resource growth and shallow open pit development.

New North-East Mineralised Orientation Emerges

Perhaps the most intriguing development is the identification of a previously untested north-east structural orientation hosting high-grade mineralisation. This orientation, distinct from the dominant north-south trend, has not yet been targeted by drilling, presenting a fresh exploration vector that could materially expand the mineralised envelope.

Managing director Simon Buswell-Smith emphasised the significance of this discovery, noting that the broad, shallow mineralised envelope now includes discrete high-grade shoots with a north-east plunge. The system remains open both along strike and at depth, underscoring the potential for further growth. Golden Dragon is already advancing detailed drill planning to systematically test this new structural trend, alongside ongoing geological modelling and geophysical programs.

Expanding the Cue Gold Project Footprint

The Coodardy Prospect is part of the larger Cue Gold Project, where Golden Dragon holds an 80% interest. The project covers over 600 km² across granted and application tenements, strategically positioned near major regional structures such as the Big Bell Anticline and Big Bell Shear Zone. Historical exploration has been limited by transported cover and shallow drilling, leaving significant upside potential for modern exploration techniques.

Recent drilling campaigns at both Coodardy and nearby Behring Bore have confirmed strong mineralisation continuity and high-grade zones near surface, setting the stage for resource expansion. The current results complement earlier findings, including those from the maiden drill program and ongoing follow-up drilling at Behring Bore, where assays are still pending. This coordinated approach highlights Golden Dragon’s commitment to unlocking value across multiple prospects within the Cue Project.

These developments follow a series of targeted drilling initiatives that have steadily enhanced geological understanding and resource potential at Coodardy, as documented in the company’s previous updates high-grade gold at Behring Bore and large-scale gold targets at Behring Bore and Coodardy.

Next Steps in Exploration and Targeting

Golden Dragon is preparing to deploy a close-spaced gravity survey across the greater Coodardy–Behring Bore area, aiming to delineate structural controls that may host high-grade shoots. The survey is expected to be completed later this month. Additionally, an auger geochemical program targeting underexplored areas within the project tenure is slated to commence soon, designed to identify new gold anomalism and drill targets.

Further drilling is planned to test the extensions of the mineralised system, particularly focusing on the newly identified north-east orientation. Geological modelling incorporating recent data is ongoing to refine structural interpretations and optimise future drill targeting. These efforts are critical to advancing from exploration success toward resource definition and potential development.