Bubalus Resources Advances Multi-Mineral Targets with $3M Cash Buffer
Bubalus Resources identified broad geochemical anomalies at its Murrindindi Gold Project and is preparing to restart exploration at its Amadeus Critical Minerals Project, supported by a solid $3.03 million cash position.
- Multi-kilometre gold, tin, tungsten anomalies at Tin Creek
- Gallium up to 260 ppm at Amadeus sparks renewed exploration
- Planning airborne geophysics and infill sampling at Murrindindi
- Nolans East drilling pending land access agreement
- $3.03 million cash supports ongoing and new projects
Expanding Footprint at Murrindindi Gold Project
Bubalus Resources (ASX:BUS) has delineated extensive geochemical anomalies over several kilometres at its Tin Creek Prospect within the Murrindindi Gold Project in Victoria. A 441-sample soil program revealed overlapping gold-hydrothermal and intrusion-related signatures, with peak assays including 32 ppb gold, 2,609 ppm arsenic, 255 ppm tungsten, and 40 ppm tin. These anomalies revive interest in a region where historic drilling intersected tungsten and tin mineralisation deemed sub-economic at the time.
The company is advancing plans for an airborne MobileMT geophysical survey, alongside geological mapping and infill sampling to sharpen drill targets. Additionally, sampling is planned over the Higginbotham Prospect, noted for previous high-grade rock chips reaching 131 g/t gold.
Critical Minerals Focus at Amadeus and Nolans East
In the Northern Territory, Bubalus is preparing to recommence exploration at the Amadeus Critical Minerals Project, concentrating on EL32796 where gallium anomalies peaked at 260 ppm. Field programs will evaluate the extent of gallium, base metals, and manganese mineralisation, supported by geological mapping and geophysical data integration to refine drill targets.
Meanwhile, at the Nolans East Rare Earth Project, drilling awaits finalisation of a Land Access Agreement due to pastoral lease ownership changes. The project lies just 15 km from Arafura Resources’ significant Nolans Bore light rare earth deposit, highlighting its strategic potential.
Broader Victorian and Corporate Developments
Bubalus also conducted a field visit to the Castleburn Gold-Copper Project to confirm access ahead of planned geochemical sampling. The company continues to evaluate new opportunities in gold, copper, and critical minerals, maintaining a healthy cash balance of $3.03 million at quarter-end to fund exploration and potential acquisitions.
Exploration expenditure for the quarter was modest at $62,000, reflecting a disciplined approach amid ongoing evaluation and preparatory work. Payments to related parties, including director fees and consulting, totalled $80,000.
Upcoming Catalysts and Exploration Plans
Looking ahead, Bubalus plans follow-up activities at Tin Creek and Higginbotham, potential submissions for exploration at Wilson’s Hill, and further programs at Victorian gold prospects including Crosbie and Castleburn. At Amadeus, systematic sampling and mapping aim to prioritise drilling targets based on combined gallium, manganese, and polymetallic indicators. Nolans East drilling remains contingent on land access and rig availability.
Bottom Line?
Bubalus is methodically advancing multi-commodity exploration with a strong cash position, but its progress hinges on upcoming geophysical surveys and securing land access for drilling.
Questions in the middle?
- Will airborne geophysics at Murrindindi clarify drill targets sufficiently to justify a maiden drilling campaign?
- How significant are the gallium anomalies at Amadeus in the context of critical minerals market demand?
- Can Bubalus secure the Land Access Agreement at Nolans East to unlock drilling near a major rare earth deposit?
