Neometals Reports Strong Copper Assays at Rinaldi Prospect

Assay Results Highlight Copper Potential at Rinaldi

Neometals Ltd (ASX:NMT) has delivered its first batch of assay results from its recent reverse circulation (RC) drilling campaign at the Rinaldi copper prospect, part of the Barrambie Gold Project in Western Australia. Among the samples fast-tracked for laboratory analysis, a standout intercept from drill hole 26RCRC009 returned 6 metres grading 1.56% copper and 20.8 g/t silver from 101 metres, including a richer 1-metre interval at 2.96% copper and 40.2 g/t silver. Another hole, 26RCRC007, recorded 5 metres at 0.43% copper from 31 metres, confirming the presence of primary copper sulphide mineralisation below historic workings.

Operational Challenges and Planned Diamond Drilling

Two of the four RC holes drilled at Rinaldi were cut short due to water ingress, notably the hole targeting the T2 dipole-dipole induced polarisation (DDIP) geophysical anomaly. This hole, 26RCRC006, was abandoned at 124 metres after encountering a significant water structure at 104 metres. Despite this, visual logging identified pyrite and quartz veining, along with a one-metre interval showing about 1% chalcopyrite, suggesting mineralisation at depth. Neometals plans to return in September with a diamond drill rig to extend this hole to its intended depth of 175 metres and properly test the T2 DDIP target, pending approvals and operational conditions.

Broader Drill Program and Ongoing Assays

The July 2026 program comprised 388 metres across four RC holes and 338 samples, with 33 samples prioritised for expedited assay based on visual signs of copper mineralisation such as chalcopyrite and quartz veining. The company cautions that these early results represent only a subset of the data and are not fully representative of the entire drill program or the broader prospect. Assays for the remaining samples, covering copper, gold, and silver, are ongoing and will be reported once validated.

Geophysical and Geochemical Surveys to Refine Targets

In parallel with drilling, Neometals is designing detailed ground magnetic and soil geochemistry programs aimed at verifying and refining the historic anomalous soil geochemistry seen around the T2 DDIP target. These surveys are intended to better delineate the structural controls on mineralisation and support future drilling campaigns. The company is also progressing routine gold assays from five RC holes drilled at the nearby Ironclad gold project.

Management Perspective and Next Steps

Managing Director Chris Reed emphasised the significance of confirming primary copper sulphide mineralisation continuing at depth beneath historic workings, describing the preliminary T2 drilling as encouraging despite the water-related interruption. He highlighted the company’s dual-track approach of returning with diamond drilling while advancing geophysical and geochemical programs to sharpen the exploration focus at Rinaldi.

With the broader assay results pending and the diamond tail planned, Neometals is poised to deepen its understanding of the copper system’s scale and continuity. The variable dip observed in the mineralised lodes so far underscores the complexity and the need for further drilling to define the deposit’s geometry and economic potential.