Eastern Resources uncovers 1.7km gold vein target at Marengo

Marengo sampling identifies a 1.7km gold vein system

Eastern Resources Limited (ASX:EFE) has added a new exploration target to its Marengo Gold Project in Queensland after maiden fieldwork identified the Reza’s Reef vein system over approximately 1.7 kilometres of continuous strike. The system is estimated to reach about one metre in width and is accompanied by up to two parallel veins of similar width.

“Project Location”

“Distribution of rock chip samples”

Caption and image © Eastern Resources Limited. From “September 2026 Quarterly Activities Report”, 29 Oct 2026.

The results were strong across the campaign: all 60 rock-chip samples returned anomalous gold, 20 exceeded 1.0 g/t Au and 13 exceeded 5.0 g/t Au. The highest assay was 12.3 g/t Au. The company said 18 new samples taken along the previously unmapped Reza’s Reef consistently returned more than 1 ppm Au, making the structure a target for more detailed follow-up work.

Surface results point to multiple mineralisation styles

“Location and Gold assays for the new set of rock chip samples.”

The field program covered the One Mile Mountain, Sulphide Shaft and Seymour’s Reef prospects across an approximately 750-hectare target area within a northwest-trending zone about nine kilometres long and up to two kilometres wide. It was designed to locate historic workings and test the potential for shallow, high-grade quartz veins.

The company’s July Marengo assay results had already reported a 12.3 g/t Au peak from rock-chip sampling. This quarter’s work added geological detail around the result, with higher grades associated in the company’s classification with brecciated or sheared quartz veins and cavities filled with copper and iron oxides. Eastern Resources also said silver and bismuth were consistently elevated in samples above 1 ppm Au, while other pathfinder elements varied, partly because of weathering.

Those findings support further mapping, sampling and potentially drilling, but they do not establish continuity at depth, a mineral resource or economic viability. Marengo remains an early-stage exploration story, and Eastern Resources’ interest is also subject to an earn-in arrangement: its subsidiary has rights to earn up to 80% of the project, while BGM Investments remains the current 100% tenement holder.

Nowa Nowa permitting advances while other projects remain quiet

Outside Marengo, the company continued work on the Environmental Effects Statement approval process for its Nowa Nowa Iron Project in Victoria. No exploration was conducted during the quarter at the Nowa Nowa Copper Project, Trigg Hill or Lepidolite Hill lithium projects.

Eastern Resources reported approximately $3.08 million in cash and cash equivalents at 30 September 2026 and related-party payments of $125,000 for directors’ fees and consulting services during the quarter. It also said it reviewed potential new Australian and offshore mineral opportunities, with commercial discussions continuing, although no acquisition was announced.