Minerals 260 Drilling Boosts Bullabulling Resource Confidence and Growth Potential

Drilling Delivers High-Grade Gold Intercepts Across Key Deposits

Minerals 260 Limited (ASX:MI6) continues to build momentum at its Bullabulling Gold Project in Western Australia, releasing assay results from 46 drill holes totalling 11,163 metres. The latest program has delivered a series of encouraging high-grade gold intersections, notably 7.8 metres at 9.0 grams per tonne (g/t) Au from 15.7 metres and 19 metres at 1.5 g/t Au from 172 metres, underpinning confidence in the 6.2 million ounce (Moz) Mineral Resource Estimate (MRE).

These results span the Phoenix, Bacchus, Kraken, and Gibraltar deposits, with the Gibraltar outcomes already factored into the July 2026 MRE update. The other deposits are on track for a resource revision targeted for mid-2027, as the company advances its systematic infill and extensional drilling campaigns.

Phoenix and Bacchus Drive Resource Upgrade Potential

The Phoenix deposit, hosting 2.3Moz at 0.95 g/t Au, yielded several notable intercepts including 8 metres at 3.0 g/t Au from 56 metres and 13.1 metres at 1.6 g/t Au from 67 metres. These results reinforce mineralisation continuity along the deposit’s western margin, supporting ongoing efforts to convert Inferred Resources to the higher-confidence Indicated category.

Meanwhile, Bacchus (2.4Moz at 1.0 g/t Au) produced standout shallow intercepts such as 7.8 metres at 9.0 g/t Au from 15.7 metres, including 2.1 metres at 30.4 g/t Au, highlighting potential for higher-grade zones early in the mine life. Infill drilling at Bacchus also demonstrated strong continuity across multiple lodes, with assays like 6 metres at 2.8 g/t Au from 181 metres, positioning the deposit well for inclusion in the forthcoming Definitive Feasibility Study (DFS).

Extensions at Kraken and Gibraltar Bolster Growth Prospects

At Kraken (540koz at 1.1 g/t Au), drilling intersected 12 metres at 1.4 g/t Au and 2 metres at 4.4 g/t Au in extensional targets, while Gibraltar (290koz at 1.1 g/t Au) delivered thick mineralisation down dip, including 16.5 metres at 1.7 g/t Au from 341 metres and a high-grade 1-metre interval at 18.1 g/t Au. These results have been incorporated into the recent resource update, with further drilling planned to test strike extensions westward towards Kraken, where gold anomalies remain open and underexplored.

Operational Scale and Strategic Focus

With five drill rigs on site, comprising reverse circulation, diamond, aircore, and water bore rigs, Minerals 260 is actively targeting resource growth, regional exploration, and production readiness. The company has completed 839 holes for over 185,000 metres since acquiring Bullabulling in April 2025, reflecting a robust commitment to delineating and expanding the project’s mineral inventory.

Managing Director Luke McFadyen underscored the significance of the results, stating they "reflect the systematic infill and extensional drilling undertaken across Bullabulling as we continue to build confidence in the scale, continuity and quality of the 6.2Moz Mineral Resource and test the broader mineralised system." He highlighted the focus on unlocking higher-grade trends within the resource and exploring near-surface targets that could enhance early production profiles.

What Lies Ahead for Bullabulling

These drilling results arrive as Minerals 260 prepares for a mid-2027 update to the Mineral Resource Estimate, a critical milestone that will incorporate the latest data and potentially reclassify significant ounces into the Indicated category, improving project economics and financing options. The company’s ongoing work at Bullabulling dovetails with its broader development timeline, which includes advancing the DFS and progressing towards production readiness.

While assay results for several holes remain pending, the current data set reinforces Bullabulling’s position as a substantial gold asset in Western Australia’s Eastern Goldfields. The interplay between resource expansion and upgrading classification will be pivotal in shaping the project’s next phase, particularly as Minerals 260 moves closer to final investment decisions and construction milestones.