Manuka Resources updates its Mt Boppy exploration with low-grade gold findings and structural insights, while resource drilling at Pipeline Ridge progresses, supporting a near-term production restart.
- Mt Boppy drilling returns low-grade gold but refines structural targets
- Pipeline Ridge drilling targets shallow oxide gold with maiden resource planned
- Amended announcement ensures ASX and JORC compliance with detailed assay clarifications
- Production restart at Wonawinta processing plant remains on track for Q2 2026
- Exploration supports Manuka’s multi-asset strategy across the Cobar Basin
Clarifications Tighten Mt Boppy Exploration Reporting
Manuka Resources Limited (ASX:MKR) has issued an amended exploration update for its Mt Boppy Gold Project, addressing ASX requests to clarify assay methods, reporting standards, and drilling details. The company confirmed that the previously reported 46g/t silver assay at depth was derived from PhotonAssay analysis, not portable XRF as initially stated, removing the need for a pXRF-specific cautionary statement. This amendment also updates figure legends and tabulated drill intercepts to align with the JORC Code (2012) and ASX Listing Rules, ensuring transparency and compliance.
The amended disclosure excludes drillhole PMS129 from current resource considerations and removes an earlier exploration target estimate of 30–40koz gold to better reflect the current exploration framework focused on drilling to approximately 60m depth. Importantly, the update includes low-grade and sporadic intercepts for completeness, though none are currently considered economically significant under Listing Rule 5.7.
Scout Drilling at Mt Boppy Yields Structural Insights, Not High-Grade Zones
The recent diamond drilling program at Mt Boppy comprised three RC collared holes targeting depth and strike extensions of known mineralisation zones between 300m and 1,000m south of the existing open pit. While the results returned only localized low-grade gold intersections, including visible sulphide mineralisation with a notable 46g/t silver assay in one hole, no material high-grade gold zones were intersected.
Executive Chairman Dennis Karp highlighted the drilling as a critical first step since acquiring Mt Boppy in 2019 to test deeper extensions. The program has refined the geological model, identifying a northwest-southeast structure truncating mineralisation and suggesting reactivation of bounding faults displacing the orebody. These findings are guiding follow-up drill targeting, particularly to the south-east of the current pit.
This exploration update builds on Manuka’s broader efforts to ramp up production, complementing the near-term restart of gold and silver processing at the Wonawinta plant. The company’s strategy aims to transition from a single-asset focus to a multi-source production platform across the Cobar Basin, leveraging satellite deposits like Mt Boppy and Pipeline Ridge to extend mine life and increase feedstock diversity.
Pipeline Ridge Drilling Targets Maiden Gold Resource
Concurrently, Manuka has commenced a ~3,075m RC drilling program at Pipeline Ridge, located 28km south of Mt Boppy. This program targets shallow oxide gold mineralisation suitable for open pit extraction, aiming to deliver a maiden gold resource in 2026. Preliminary exploration targets estimate between 187kt and 365kt grading 1.1–1.5g/t Au down to 58m depth, though this remains conceptual pending further drilling.
Pipeline Ridge’s volcanic massive sulphide (VMS) style deposit has undergone extensive historic drilling, delineating structurally controlled gold zones over strike lengths of 180m and 295m. The current resource definition drilling will focus initially on shallow oxide zones before evaluating deeper mineralisation.
Production Restart and Strategic Outlook
Manuka is progressing final commissioning of the Wonawinta processing plant with first gold processing expected in the May-June quarter and silver production to follow in Q3 2026. Recent milestones include securing refinancing, completing care and maintenance, and upgrading processing equipment. The company is building ROM stockpiles and refining mine plans, positioning for steady-state production and cash flow generation later this year.
This exploration update complements the company’s US$30 million debt facility secured and Mt Boppy crushing and haulage progress, reinforcing confidence in Manuka’s multi-asset development approach across the Cobar Basin. The amended announcement’s detailed compliance with ASX and JORC requirements enhances transparency for investors assessing the evolving resource base and production ramp-up.
Bottom Line?
While early Mt Boppy drilling returned modest grades, structural insights sharpen future targets as Pipeline Ridge drilling advances, supporting Manuka’s production ramp-up ambitions.
Questions in the middle?
- Will follow-up drilling at Mt Boppy identify economically significant extensions?
- How will Pipeline Ridge resource definition impact Manuka’s feedstock mix and mine life?
- What operational risks could affect the timing and scale of the Wonawinta production restart?