Altitude Minerals Advances Multi-Project Drilling After $1.15M Raise
Altitude Minerals is gearing up for significant drilling campaigns in New South Wales and Nevada, backed by a recent $1.15 million capital raise to fund exploration and project advancement.
- Drill permits secured for Byrock and Nevada projects
- 2,300m RC drilling planned at Byrock copper-gold targets
- 2,600m combined RC drilling scheduled for Nevada silver-gold projects
- May $1.15 million capital raise supports exploration and working capital
- Seeking JV partners or divestment for lower priority South Australian project
Drilling Readied at Byrock Copper-Gold Project in NSW
Altitude Minerals Ltd (ASX:ATT) is poised to kick off a 2,300-metre reverse circulation (RC) drilling program at its Byrock Project in the Northern Macquarie Arc, New South Wales. The company has secured all necessary drill permits and contracted a rig, with earthworks already underway. The program will focus on testing the highest-ranked pipe targets P38, P01, P02, and T47, aiming to validate copper-gold porphyry mineralisation identified in prior surface sampling and geophysics.
Nevada Silver-Gold Projects Progress Towards Drilling
In the United States, Altitude is advancing two silver-gold epithermal projects in Nevada: the Firenze and W-Project. At Firenze, a 2,600-metre RC drill program has been permitted and is awaiting the completion of the current contractor's commitments, expected around September or October 2026. Parallelly, the W-Project has seen extensive geophysical work, including drone magnetics and a CSAMT survey to refine structural controls ahead of drilling, targeted for readiness by September.
Capital Raise Fuels Exploration and Corporate Plans
Supporting these drilling campaigns, Altitude completed a $1.15 million capital raise in May at 1.3 cents per share, with attaching options exercisable at 3.4 cents and expiring in July 2027, pending shareholder approval. The funds are earmarked for acquisition and rapid definition of drill targets at the Nevada W-Project, the Byrock drilling program, advancing Nevada projects to drill readiness, and general working capital.
Strategic Project Portfolio Management
Altitude continues to refine its project portfolio, focusing on strategic and precious metals in favourable jurisdictions with rapid drill target validation potential. The company is actively seeking joint venture partners or divestment options for the Eromanga Basin HMS Project in South Australia, which, despite positive proof-of-concept drilling in 2025, is now a lower priority compared to higher-potential assets.
Bottom Line?
With drilling permits in hand and funding secured, Altitude Minerals is set to test multiple high-priority targets across two continents, though timing in Nevada hinges on contractor availability and shareholder approval for options.
Questions in the middle?
- How will initial drilling results from Byrock influence Altitude's exploration focus in NSW?
- What impact will contractor scheduling have on the timing and sequencing of Nevada drilling campaigns?
- Will Altitude secure a joint venture partner or divest the Eromanga Basin project, and how might this affect capital allocation?
