Reward Minerals Confirms Gold-Copper Potential at Newfoundland Project Ahead of Maiden Drilling

High-Grade Assays Confirm Jackpot Prospectivity

Reward Minerals Limited (ASX:RWD) has delivered compelling early-stage results from its Mountain Pond Gold Project in Newfoundland, with rock chip assays at the Jackpot Prospect confirming robust gold and copper mineralisation. New samples returned grades as high as 8.16 grams per tonne (g/t) gold and 1.77% copper, reinforcing earlier historic assays that included values up to 23.77g/t Au and 7.48% Cu. These results validate Jackpot as a high-priority target and underpin the company’s imminent maiden diamond drilling plans.

Bingo Prospect Emerges as Secondary Focus

Approximately 400 metres along strike from Jackpot, the Bingo Prospect has risen in prominence following soil sampling that yielded a standout 1.55g/t gold assay. This result notably surpasses earlier prospecting returns in the 50–200 parts per billion range and positions Bingo as the second-highest priority target. CEO Lorry Hughes highlighted the logistical advantage of Bingo’s proximity, just 200 metres from the existing access road, potentially reducing exploration costs as Reward advances detailed prospecting and drilling preparations.

Drilling Permits and Exploration Pipeline

Reward is currently finalising site access clearing and drilling permit applications, with approvals anticipated within four weeks. Preparations for the maiden drilling program at Jackpot are already underway, aiming to test the depth extensions of the mineralised vein and shear zone that have so far only been surface sampled. The company has also collected over 500 new soil samples across the Mountain Pond Project, including an expanded area around Bingo, with assay results expected by August. This extensive sampling will guide follow-up exploration activities over the coming quarters.

Mountain Pond’s Strategic Location and Untapped Potential

Located about 530 kilometres northwest of St John’s and 112 kilometres from Reward’s Copper Lance Project, Mountain Pond covers 41 contiguous claims spanning roughly 10 square kilometres along the Sullivan Pond Fault, a regional structure known for mineralisation. Despite historic exploration dating back to the 1970s, the project has never been drill tested, offering Reward a largely unexploited discovery opportunity. The company holds exclusive rights to acquire 100% of the claims subject to vendor royalties, positioning it to consolidate and advance this underexplored terrane.

Exploration Strategy and Next Steps

Reward’s immediate focus is on securing drilling permits and commencing diamond drilling at Jackpot to validate the surface mineralisation at depth. Concurrently, the company will assess incoming soil assay data to refine target prioritisation across both Mountain Pond and Copper Lance projects. Follow-up exploration, including geological mapping, trenching, and additional sampling, is planned based on drilling outcomes and soil results. These activities mark a significant step in transitioning Reward’s Newfoundland assets from early-stage exploration to potential resource delineation.