Accelerate Resources Confirms High-Grade Gold at Spencers with Maiden RC Drilling

Spencers Delivers Balagundi’s Highest-Grade Gold Intercept

Accelerate Resources (ASX:AX8) has punched a significant hole in the Balagundi Gold Project’s potential, announcing maiden reverse circulation (RC) drilling results from its Spencers discovery that include a standout 11 metres at 4.65 grams per tonne gold from just 25 metres depth. This intercept, which contains an extraordinary 1 metre at 46.93 g/t Au, marks the highest-grade gold hit at Balagundi so far and transforms the shallow aircore discovery into a clearly defined RC target.

All nine RC holes drilled intersected gold mineralisation, confirming a broad mineralised system extending over 300 metres along strike and remaining open both laterally and at depth. The results strongly reinforce earlier aircore findings, including a 28-metre interval at 1.01 g/t Au announced in May 2026, and suggest a substantial gold system is emerging just 15 kilometres east of Kalgoorlie.

Geological Controls Provide Clear Targeting Framework

The gold mineralisation at Spencers is closely associated with quartz veining and alteration along a mappable contact between dolerite and sedimentary rocks. This geological setting offers a tangible structural control that the company can trace and target with precision, rather than chasing isolated high-grade pockets. The shallow high-grade intercept in hole 26BGRC023 was encountered in highly weathered rock, indicating the potential for near-surface oxide gold that could be favourable for mining and processing, particularly through toll-milling options available in the district.

CEO Luke Meter highlighted the significance of the results, stating that the discovery “demonstrates that Spencers can host high grades over significant widths close to surface” and that mineralisation remains open for expansion. With only nine holes completed, the company sees a strong case to prioritise the next phase of drilling to extend the mineralised zone along strike and down-dip, as well as infill around the high-grade intercept to test continuity.

Balagundi Project Positioned for Multi-Trend Exploration

The Balagundi Gold Project, located in one of Western Australia’s premier gold districts, has been underexplored by modern techniques until recently. Accelerate has expanded its landholding to approximately 62 square kilometres through a May 2026 deal with Maritana Minerals Limited, gaining control over key structural corridors including the Delta Trend. This positions Balagundi as a multi-trend gold project with several priority targets such as Spencers, Paris Gift, Delta, and Iron Bound.

The project’s proximity to Kalgoorlie-based processing infrastructure adds strategic value, potentially lowering development hurdles. The company is currently planning and permitting follow-up drilling programs aimed at unlocking the full extent of mineralisation at Spencers and other targets within the project.

Next Steps and Market Implications

Accelerate’s maiden RC drilling results at Spencers provide a compelling early indication of a significant gold system with high-grade potential close to surface. The company’s next steps will focus on extending the mineralised zone along strike and at depth, as well as infilling to better define the continuity of high-grade zones. While true widths of mineralised intercepts remain unknown and further drilling is required, these results justify prioritising Spencers within the broader Balagundi exploration strategy.

Given the project’s secure tenure and location near established infrastructure, these findings could accelerate Balagundi’s path toward resource definition and eventual development. Investors will be watching closely as the company advances its drilling programs and refines its geological model in the coming months.