Austral Resources Confirms Polymetallic High-Grade Copper at Snow Queen

Polymetallic Mineralisation Enhances Copper Intercept

Austral Resources Australia Ltd (ASX:AR1) has upgraded its Snow Queen drilling results, confirming significant gold and silver grades accompanying a previously reported high-grade copper intersection. The standout intercept from drillhole 26SQRC001 now reads 10 metres at 7.52% copper, 9.28 grams per tonne silver, and 0.25 grams per tonne gold starting from 35 metres downhole, including a richer 4-metre section grading 15.98% copper, 16.22 grams per tonne silver, and 0.48 grams per tonne gold.

These assays reinforce the prospect's potential as a polymetallic copper-gold-silver system within the broader Cameron River Project, situated in the prolific Mt Isa region. This confirmation supports Austral’s approach to advance satellite copper opportunities around its recently acquired Rocklands Processing Facility, which now boasts dual processing capabilities for sulphide and oxide copper ores.

Exploration Strategy Anchored by Regional Growth

Austral’s Chief Operating Officer, Shane O’Connell, emphasised the strategic importance of these results, noting that the gold and silver values add a new dimension to the high-grade copper discovery. The company plans to resume regional drilling in the third quarter of 2026, targeting priority prospects within its extensive 2,101 square kilometres of exploration tenure. This drilling program aims to build on the momentum from the initial Snow Queen intercept, which was first reported in early May and highlighted the potential for high-grade copper mineralisation near Rocklands.

The Snow Queen Prospect lies within EPM 17634 and features mineralisation hosted in brecciated Hardway Granite with actinolite-albite alteration and copper sulphides such as chalcocite and chalcopyrite. The deposit type remains under evaluation, with true widths of mineralised zones yet to be determined. Pending assays from drillhole 26SQRC002 are expected within weeks, which will provide further clarity on the system’s extent and continuity.

Building on a Growing Copper Inventory

Austral’s recent acquisition of the Rocklands Facility and its substantial JORC-compliant Mineral Resource Estimate, including 64 million tonnes at 0.73% copper, underpin its growth ambitions. The company has been steadily consolidating its position in the Mt Isa district, a world-class copper and base metals province. The Snow Queen results dovetail with Austral’s broader exploration and development plans, which include ongoing near-mine drilling at satellite copper targets and resource extensions at projects such as Lady Annie.

This drilling update follows Austral’s recent high-grade copper intercepts at Snow Queen, which first revealed the 10-metre copper interval. The company’s improved assay data now adds a polymetallic element that could positively influence the economics and resource classification of the prospect. Austral’s ability to integrate these satellite deposits into its processing infrastructure is a key element of its regional consolidation strategy.

Technical Rigor and Assay Confidence

The assays were conducted by ALS Laboratories using industry-standard techniques including aqua regia digestion and fire assay for gold, ensuring reliable and reproducible results. The sampling and drilling protocols, overseen by Austral’s Competent Person Dr. Nathan Chapman, meet JORC 2012 standards. While the deposit type and geometry are still being defined, the data quality and assay verification processes provide a solid foundation for ongoing exploration and resource modelling.

Austral’s exploration team is designing follow-up drill programs to test lateral and depth extensions of the Snow Queen mineralisation. These efforts are part of a wider push to expand the company’s resource base and extend mine life, leveraging its dual processing capabilities and strategic location within the Mt Isa copper belt.