Redcastle Reports High-Grade Gold Results Boosting Queen Alexandra Expansion

Robust High-Grade Gold Intercepts Bolster Queen Alexandra Prospects

Redcastle Resources (ASX:RC1) has unveiled a fresh tranche of high-grade gold assay results from its Queen Alexandra (QA) grade-control drilling program within the Redcastle Gold Project, Western Australia. The latest batch comprises 127 reverse circulation (RC) holes, lifting the total QA dataset to 265 holes. Notably, around 68% of these holes returned gold intercepts averaging 2.0 g/t or higher, underscoring the deposit’s consistent mineralisation.

Standout intercepts include BMRC476 with 2 metres at 37.52 g/t Au from 37 metres depth, including a blistering 1 metre at 67.70 g/t Au, and BMRC559 delivering 5 metres at 12.47 g/t Au, featuring 1 metre at 46.90 g/t Au. These multi-metre, high-grade intervals materially improve the local grade definition across the southern-to-central QA grid, reinforcing the geological interpretation underpinning the 2025 Mineral Resource Estimate (MRE).

Strategic Implications for Pit Expansion and Mine Planning

Queen Alexandra sits roughly 700 metres west of Redcastle Reef and forms a core part of Redcastle’s broader mine development strategy. The deposit’s expanding high-grade footprint supports plans for pit expansion southward into the recently granted mining lease M39/1171, pending submission and approval of the necessary Mine Development and Closure Plan (MDCP) amendment.

Chairman Dr Ray Shaw emphasised the strengthened confidence these results bring, highlighting the importance of both Queen Alexandra and Redcastle Reef deposits within the company’s staged development approach. The grant of M39/1171 adds flexibility to evaluate further grade-control drilling and potential pit enlargement once field operations resume.

Drilling Data Validates Geological Model and Mining Readiness

The comprehensive drilling program has delivered close-spaced assay coverage over an irregular footprint of approximately 13,500 m². The results align well with the shallow, structurally controlled, and locally stacked gold lodes modelled in the 2025 MRE. The QA dataset’s higher incidence of significant gold intercepts (56% of holes with ≥2.0 g/t Au) compares favourably to Redcastle Reef’s 42%, highlighting QA’s superior grade potential within the Redcastle-BML Ventures Joint Venture (RB JV).

The grade-control data will be pivotal for selective mining, ore-waste delineation, dilution control, and short-term mine planning once mining recommences. However, operations remain temporarily suspended as the joint venture assesses alternative processing arrangements, adding a layer of operational uncertainty.

Next Steps Focus on Model Refinement and Further Drilling

Redcastle plans to integrate the validated assay dataset with geological logging and sectional interpretations to refine the QA geological and grade-control model. This will support ongoing mine planning, including selective mining strategies and dilution control. The company will also review mining reconciliation data to identify any areas requiring targeted drilling to resolve grade or geological uncertainties.

Subject to the necessary MDCP amendment and operational scheduling, further grade-control drilling is anticipated within the southern extension of the QA pit. These steps will be critical in translating the promising assay results into a viable mining operation and potentially expanding the resource base.