Hamelin Gold has expanded its Day Dawn drilling campaign after intersecting multiple high-grade gold lodes, including 3 metres at 93.4 g/t Au from 9 metres. The company raised approximately $8 million during the quarter and held $9 million in cash as it prepares for diamond drilling and further exploration across Western Australia.
- 3m at 93.4 g/t Au from 9m at Aurora, including 2m at 128.9 g/t
- Phase 2 RC drilling expanded to approximately 4,000m across 35 holes
- Diamond drilling at Day Dawn scheduled to begin in October
- Venus heritage clearance completed ahead of a planned 130-hole aircore program
- Approximately $8m raised and $9m held in cash at quarter end
Day Dawn Results Drive Expanded Drilling
Hamelin Gold Limited (ASX:HMG) is taking its Day Dawn campaign deeper after the first phase of drilling confirmed multiple high-grade gold lodes near Telfer in Western Australia’s Paterson Province. The standout result was 3 metres at 93.4 g/t Au from 9 metres at the Aurora prospect, including 2 metres at 128.9 g/t Au.
The quarter also produced several other strong intersections, including 3 metres at 17.1 g/t Au from 17 metres, 4 metres at 21.0 g/t Au from 27 metres and 2 metres at 12.4 g/t Au from 149 metres. Hamelin’s interpretation identifies an Upper Lode containing most of the near-surface mineralisation and a newly interpreted Lower Lode that remains open both up and down plunge. The results build on the company’s earlier Day Dawn high-grade lodes, which had identified two distinct lodes at Aurora and reef-style mineralisation at Altus.
Phase 2 Program Moves Beyond 3,000 Metres
Hamelin completed a second RC program during the quarter, expanding it from a planned 3,000 metres to approximately 4,000 metres across 35 holes after additional targets emerged during drilling. The program tested near-surface extensions, down-plunge continuity and possible parallel lodes across the Aurora and Altus corridor.
More than 4,000 samples have been submitted for analysis, with results expected in October 2026. Geological observations indicate both lodes remain open at depth, while wet samples encountered below roughly 150 to 200 metres are expected to shift future testing towards diamond drilling. That work is scheduled to begin in October and will include diamond tails on selected RC pre-collars, as well as dedicated core holes through the upper parts of the Aurora and Altus lodes.
Aurora and Altus Form the Core Exploration Story
At Altus, located about 50 metres southeast of Aurora, drilling and a re-evaluation of historical data support a previously unrecognised reef-style mineralisation system. Results included 1 metre at 21.5 g/t Au from 24 metres and 2 metres at 7.0 g/t Au from 45 metres. Hamelin says the mineralisation remains open in all directions.
The company has drawn an analogy with the nearby Telfer gold-copper mine, where much of the high-grade mineralisation is hosted in conformable reef systems. That comparison remains an exploration model rather than an economic conclusion: the quarterly report provides drilling results and geological interpretations, not a mineral resource estimate or evidence of commercial viability. Diamond core will also provide material for preliminary metallurgical test work and structural information to refine the three-dimensional model.
Capital Raise Funds Three-Pronged WA Campaign
Hamelin ended September with approximately $9.0 million in cash after completing the first tranche of an approximately $8 million placement priced at $0.16 a share. The placement included strong support from Gold Fields and Vault Minerals, while directors committed to subscribe for a further 2,005,709 shares on the same terms. The capital raising had earlier been announced as a $8 million exploration placement, with funds earmarked for Hamelin’s Western Australian projects.
Cash flow for the quarter shows $863,000 spent on exploration and evaluation, alongside $214,000 of net operating cash outflow. Financing activities generated $7.555 million after transaction costs, lifting cash from $2.483 million at the start of the period to $8.961 million at September 30. On the company’s reported calculation, that equates to about 8.3 quarters of funding at the quarter’s relevant spending rate, although exploration expenditure is likely to vary as drilling activity increases.
Venus and West Tanami Add Future Drilling Options
Day Dawn is the immediate focus, but Hamelin is also preparing its next targets. At the 300-square-kilometre Venus project near Cue, a heritage survey cleared proposed access routes and drilling locations. The company plans an initial aircore program of approximately 130 holes across the Veritas, Mariner and Davinci prospects beneath Lake Austin, with drilling scheduled for early 2027.
In the West Tanami, follow-up RC drilling is planned at Jazz to test structural targets and extensions towards the south, west and depth. The company also intends to continue work at Fremlins South, where earlier aircore drilling outlined shallow gold anomalism over more than 400 metres. The immediate market test is therefore clear: whether October’s Day Dawn assays and the coming diamond holes can convert an encouraging set of intersections into a more coherent mineralised system.
Bottom Line?
October assays and the first diamond holes are the next evidence points for whether Day Dawn’s high-grade results extend into a larger, better-defined system.
Questions in the middle?
- Will the pending Phase 2 assays confirm continuity between the Aurora and Altus mineralised zones?
- Can diamond drilling establish depth continuity and produce metallurgical results that support further technical work?
- How quickly will Hamelin deploy the placement proceeds across Day Dawn, Venus and West Tanami without stretching its exploration budget?