49 Metals Broadens Gold Mountain Feeder Corridor with 64m at 1.0g/t Au Intercept

Broad Mineralised Envelope Emerges at Gold Mountain

49 Metals Limited (ASX:49M) has unveiled new assay results from its maiden RC drilling campaign at the Gold Mountain project in Nevada, revealing a broad oxide gold mineralisation envelope surrounding a structurally controlled high-grade feeder corridor. The standout intercept came from hole DRC#16, which delivered 64 metres at 1.0 grams per tonne (g/t) gold from 152.4 metres, including higher-grade zones such as 13.7 metres at 1.9 g/t Au. These results build on previous high-grade hits, confirming that the mineralisation is not isolated but part of a coherent corridor that remains open along strike and at depth.

Shallow Mineralisation Expands Target Scope

Complementing the deeper intercepts, hole DRC#15; located about 150 metres southwest of the Adit Zone discovery; returned shallow oxide gold mineralisation of 15.2 metres at 1.5 g/t Au from just 4.6 metres depth, including 6.1 metres at 3.2 g/t Au. This confirms that gold mineralisation extends beyond the interpreted high-grade feeder corridor and occurs across multiple northeast-trending structures within the broader Adit Zone. The shallow nature of this mineralisation enhances the project’s exploration appeal and underscores the scale of the hydrothermal system being delineated.

Geological Model Gains Confidence Amid Pending Assays

Chief Executive Officer Phil Carter emphasised the significance of these results in refining the company’s geological model. “The broad mineralised envelopes surrounding higher-grade feeder structures are classic features of significant epithermal gold systems,” Carter noted. The interpreted feeder corridor, spatially associated with the Oddie Rhyolite contact, exhibits a distinctive geochemical signature that suggests proximity to a hotter, potentially higher-grade core. While assays remain pending for six additional holes and the upper portion of DRC#16, the current data already provide a compelling exploration pathway.

Maiden Drilling Program Completes with Encouraging Results

The 22-hole maiden RC drilling program, totalling approximately 7,500 metres, has successfully validated 49 Metals’ exploration concepts. The program aimed to define the structural architecture of the Gold Mountain epithermal system and lay the groundwork for future resource estimation. The results to date confirm structurally controlled feeder corridors hosting high-grade gold mineralisation within a broader envelope of oxide gold, a hallmark of large, long-lived epithermal systems. The mineralised corridor remains open in multiple directions, providing clear targets for expansion.

Next Steps Focus on Integration and Follow-Up Drilling

With assays pending, 49 Metals plans to validate and interpret remaining results, integrate new data into its geological model, and further assess mineralisation continuity within the Adit Zone. Follow-up drilling is scheduled for the fourth quarter of calendar year 2026, targeting strike and depth extensions. The evolving geological model, focused on feeder corridors associated with the Oddie Rhyolite contact, will guide these efforts and aims to unlock the full potential of the Gold Mountain system.