Tambourah finds primary gold beneath high-grade Baxter South zone

Baxter South adds a primary gold discovery beneath high-grade supergene mineralisation

Tambourah Metals Ltd (ASX:TMB) has identified its most consequential exploration result of the September quarter at Baxter South, where drilling intersected 3 metres at 35.5 grams per tonne gold from 169 metres in fresh rock, including 1 metre at 73.2g/t. The interval sits beneath a near-surface redox zone that returned even higher grades, including 4 metres at 41.7g/t and a 1-metre section at 146.5g/t.

“Location plan showing Tambourah's Bryah Gold Project tenements and prospects.”

“Baxter Sth location plan showing gold targets.”

Caption and image © Tambourah Metals Ltd. From “Quarterly Activities/Appendix 5B Cash Flow Report”, 28 Oct 2026.

The company describes the fresh-rock interval as a new primary gold discovery, but the geometry is not yet established. Further drilling is required to determine its orientation, leaving continuity as the immediate geological question rather than treating the isolated intercept as a defined resource. The quarter’s result builds on the Baxter South high-grade results, which had already reported the 146.5g/t supergene interval and the primary zone.

Beatty Park drilling moves from spectacular shallow hits to structural definition

“Beatty Park Sth interpreted cross-section showing shallow, high-grade drill intercepts.”

At Beatty Park South, Tambourah completed 1,056 metres of RC drilling and began a five-hole, Exploration Incentive Scheme co-funded diamond program designed to test depth extensions to gold mineralisation at about 250 metres vertical depth. The earlier aircore program had returned eye-catching shallow intersections, including 10 metres at 38.9g/t gold and 6 metres at 25.8g/t, but the latest RC work produced only minor mineralisation, with a best result of 4 metres at 2.29g/t from surface.

The diamond core is being transported to Perth for detailed structural logging, cutting and assay sampling. That work matters because Beatty Park South has no surface outcrop and limited legacy drilling, while the company says the core should help identify structural controls, fluid pathways and potential traps. Assays from the 1,790-metre T2 aircore program and the five-hole diamond campaign remain pending.

Tambourah King drilling prepares the ground for a maiden resource

Tambourah completed 2,292 metres of RC drilling across its namesake gold project, including 11 infill holes at Tambourah King. The company says the drilling confirmed continuation of the mineralised shear, with notable results of 4 metres at 3.59g/t from 109 metres and 1 metre at 5.15g/t from 88 metres. Additional shallow intersections from Western Chief included 3 metres at 5.88g/t and 3 metres at 4.33g/t.

“Tambourah Metals Project Locations”

“Tambourah Gold Project prospect plan”

Caption and image © Tambourah Metals Ltd. From “Quarterly Activities/Appendix 5B Cash Flow Report”, 28 Oct 2026.

The infill campaign, alongside density and metallurgical test work, is intended to support a maiden mineral resource estimate at Tambourah King, where mining lease applications remain pending. The program follows Tambourah King resource drilling, which had tightened drilling across the lode ahead of resource modelling. Tambourah also says the Western Chief structure remains poorly tested below 50 metres vertical depth, preserving an exploration target but not yet a defined deeper resource.

Critical minerals work expands beyond the gold portfolio

The company continued to build a second exploration pipeline across its Pilbara and Kimberley tenements. At Speewah North, access tracks were re-established ahead of planned RC drilling targeting antimony, silver, copper and gold mineralisation across the Chapman’s, Hayden’s and Catto’s prospects. At Eleys-Coondina, Tambourah completed reconnaissance sampling, a high-resolution hyperspectral survey and expanded tenure applications, while a CSIRO collaboration will use machine learning to prioritise lithium-caesium-tantalum pegmatite targets.

“Chapman - Hayden's corridor showing historic prospect locations and planned drill targets.”

“Coondina project geology, sample locations showing Silver and LCT anomalies.”

Caption and image © Tambourah Metals Ltd. From “Quarterly Activities/Appendix 5B Cash Flow Report”, 28 Oct 2026.

Some of the critical-minerals results are promising but remain reconnaissance-stage. Sampling at Coondina returned up to 1.14% lithium oxide, while a separate sample carried 150 grams per tonne silver, 3,000 parts per million bismuth and 0.3% copper. The company plans further sampling and mapping before deciding which targets merit more intensive exploration.

A$4.037 million cash balance gives the next drilling cycle room

Tambourah held A$4.037 million in cash at 30 September, after spending about A$675,000 on exploration during the quarter. Operating and financing outflows brought total relevant quarterly outgoings to A$892,000, producing an estimated 4.53 quarters of funding on the Appendix 5B calculation. The cash-flow statement recorded no proceeds from equity issues during the quarter, alongside A$211,000 in related-party payments for director fees, shared office costs and consulting.

The balance should be read alongside the $2.2 million entitlement offer, which was seeking additional funds for exploration and was not underwritten. Tambourah’s immediate operational test is now straightforward: turn Baxter South’s high-grade primary interval into a drill-defined system, deliver the pending Beatty Park assays and complete the data validation needed for Tambourah King’s first resource estimate.