Green & Gold Minerals Accelerates High-Grade Drilling at Herberton and Chillagoe

Rapid Progress at Herberton Following Acquisition

Green & Gold Minerals (ASX:GG1) wasted no time after securing shareholder approval in April 2026 to acquire the Herberton Conductor Metals Project. The company quickly moved into sampling and drilling phases, targeting copper, silver, tin, and indium, metals increasingly critical to electrification and AI infrastructure.

Initial rock chip assays from key prospects like Copper Hills, Mt Gossan, Siberia, and Penang Pekin delivered standout results. Highlights include an extraordinary 2,212 g/t silver, 9.2% copper, 26% lead, and 188 g/t indium sample at Copper Hills, alongside similarly impressive grades at Mt Gossan and Siberia, where assays returned up to 16.7% tin and 676 g/t indium. These grades underscore the district’s underexplored potential for polymetallic deposits.

Drilling Campaigns Target Large-Scale Deposits

Reverse circulation (RC) drilling wrapped up at Copper Hills in June, with six holes completed and assay results expected in early August 2026. Subsequent drilling at the undrilled Mt Gossan breccia, a significant target with copper, silver, tin, and indium potential, was conducted post-quarter, with assays anticipated by early September.

The Siberia lode system, stretching approximately 5 km, remains a high-priority target given its extensive strike and encouraging historic drill data. Vehicle access restoration has enabled these expanded drilling efforts, positioning GG1 to test large-scale mineralisation zones.

Chillagoe Gold Project Advances with Strategic Mill Access

At Chillagoe, GG1 maintains a dual focus on gold exploration and development. Drilling at the Sentinel prospect was completed in June, following the discovery of high-grade gold telluride veins. Petrographic analysis confirmed visible gold and the presence of joseite mineralisation, reinforcing the geological similarity to nearby major deposits such as Red Dome and Mungana.

Meanwhile, the Mungana mill’s acquisition by Legacy Mines offers a strategic processing hub for GG1’s Mt Wandoo project. Legacy Mines’ public statements signal openness to treating third-party ore, presenting a low-capital development pathway for Mt Wandoo’s near-surface mineralisation. The company plans further drilling to expand and upgrade the Mt Wandoo resource before advancing mining studies.

Capital Efficiency Boosted by Drill-for-Equity Agreement

To enhance drilling capacity without immediate cash expenditure, GG1 entered a drill-for-equity agreement with Centurion Drilling after quarter end. This arrangement supports increased metres drilled at Herberton and Chillagoe, reflecting confidence in the company’s exploration upside while preserving cash. GG1 ended the quarter with a solid cash position of $2.8 million, following $0.23 million spent on exploration.

The company holds 100% ownership of all tenements across its project portfolio, including the recently acquired Herberton tenements and granted mining leases at Chillagoe. The combination of high-grade assay results, ongoing drilling, and strategic infrastructure access positions GG1 well for advancing these complementary base and precious metals projects in North Queensland.