Minerals 260 Commences Early Construction at Bullabulling Gold Project

Early Construction Signals Bullabulling Momentum

Minerals 260 Limited (ASX:MI6) has officially started early construction activities at its Bullabulling Gold Project in Western Australia, marking a key milestone as it pushes toward plant construction in the first half of 2027 and targets first gold production by the fourth quarter of 2028. This early work includes village construction, water infrastructure, and grade control drilling, highlighting the company’s commitment to advancing the project swiftly.

Central to this phase is the $59.1 million fixed-price contract awarded to ATCO Structures & Logistics for the design and build of a 400-person accommodation village. Site preparation and bulk earthworks are underway, with room manufacturing already started in Perth. The village is expected to be fully operational by early 2027, supporting both construction and future operational phases.

Water and Drilling Programs Progress

Water infrastructure development is advancing with drilling and installation of water bores to secure construction and operational supply. Multiple sources, including palaeochannel and fractured rock aquifers, have been identified, and previously operational bores have been redeveloped to support long-term needs.

Meanwhile, a 26,000-metre grade control drilling program commenced in May 2026, focusing on the Phoenix deposit’s high-priority zones expected to contribute to early production. Minerals 260 plans to use Photon Assay technology as its primary analytical method and is considering establishing an on-site facility to support ongoing mining operations, a move that could enhance assay turnaround and accuracy.

Regulatory Approvals and Environmental Considerations

Minerals 260 has secured approval for its Mining Development and Closure Proposal and Works Approval for the village construction. The company is advancing other key approvals under the Western Australia State pathway, including applications related to the Mining Act 1978 and the Environment Protection Act 1986. The project benefits from a long history of ecological studies dating back to 1991, with recent flora and fauna surveys supporting permitting efforts.

Notably, the entire Mineral Resource lies within granted mining leases, allowing for a streamlined permitting process. Historical site disturbances have resulted in some habitat degradation, reducing the presence of Matters of National Environmental Significance within the development envelope, which may ease environmental permitting challenges.

Resource Base and Upcoming Study Milestones

The Bullabulling Gold Project hosts a substantial JORC 2012 Mineral Resource Estimate of 130 million tonnes at 1.0 g/t gold for 4.5 million ounces, spread across multiple deposits including Phoenix, Dicksons, and Bacchus. The company is on track to release its maiden Ore Reserve and Pre-Feasibility Study in July 2026, with an updated Mineral Resource Estimate scheduled for August. These milestones will be critical in refining the project’s development plan and underpinning investment decisions.

Minerals 260’s Managing Director Luke McFadyen emphasised the significance of commencing early construction ahead of the PFS completion, citing strong board and shareholder support and a strategic funding agreement with Franco Nevada earlier in the year as key enablers. The company’s robust balance sheet, with approximately $250 million in cash and deposits as of March 2026, positions it well to maintain development momentum.