Daly uncovers a longer, higher-grade fluorite vein at Huckitta

Huckitta fluorite footprint stretches beyond historical focus

Daly Resources Limited (ASX:DLY) has found its most consequential Huckitta result more than 5km west of the project’s historical exploration focus: a newly identified fluorite-bearing vein mapped over more than 700m, with rock-chip assays reaching 91.2% CaF2. Samples exceeding 20% CaF2 were collected across the length of the mapped structure, making it the longest continuously mineralised fluorite vein identified at Huckitta to date.

“Daly rock-chip CaF₂ results (July 2026) from the newly identified western priority target area, Huckitta Fluorite Project (refer ASX announcement 22 July 2026).”

“New CaF₂ rock-chip and fluorine-in-soil results, with previously reported geochemistry results from Huckitta (refer ASX announcement 18 September 2026).”

Caption and image © Daly Resources Limited. From “Quarterly Activities / Appendix 5B Cash Flow Report”, 30 Oct 2026.

The result builds on an earlier Huckitta exploration thread in which a 10.7km soil traverse revealed fluorine anomalies beyond known outcrops and beneath transported cover. The latest programme added further high-grade rock-chip results in the eastern priority area, reaching 73.98% CaF2 from previously unidentified outcrop. Historical work in the eastern part of the project had identified several fluorite-bearing veins within an 8km corridor, including a historical drill intersection of 6.1m at 35.1% CaF2.

Soil geochemistry points to concealed targets

Daly’s first-pass soil programme comprised 148 samples across two east-west traverses. It identified a coherent fluorine anomaly extending at least 1km along strike in an area with limited outcrop, while additional anomalism appeared on a northern traverse and at locations more than 400m from the nearest mapped vein.

A second, 10.7km traverse positioned about 1.3km north of the main vein cluster produced multiple coherent anomalies, including zones beyond known outcrop and beneath surface cover. Some anomalies also carried elevated thorium and a tin-niobium-tungsten-rubidium-beryllium association that Daly interprets as a possible broader footprint of a fluorine-rich hydrothermal system. The company cautions, however, that soil results do not directly demonstrate fluorite beneath each anomaly.

High-resolution magnetic and radiometric data covering about 3,200 line kilometres have also improved the definition of structures associated with mapped fluorite mineralisation. Daly plans to combine those data with systematic regional soil sampling and follow-up mapping to select targets for its maiden Huckitta drilling programme. The results remain surface exploration evidence: they do not establish grade continuity at depth, a mineral resource or an economic deposit.

Broughton and Batten add two more drilling pipelines

At Broughton, the Northern Territory Government co-funded VTEM survey began during the quarter across about 2,018 line kilometres. Daly expects the data to help map conductive stratigraphy, structural corridors and discrete anomalies within its sediment-hosted copper-zinc exploration model before integrating the results with existing geological and geochemical information.

“Broughton Project tenements showing regional geology, mineral occurrences and VTEM survey areas (refer ASX announcements 6 July and 27 August 2026).”

“Southern Batten Project setting showing the Hot Spring target on the western continuation of the Bald Hills Fault deposit trend, relative to the McArthur River Mine (HYC) and…”

Caption and image © Daly Resources Limited. From “Quarterly Activities / Appendix 5B Cash Flow Report”, 30 Oct 2026.

At Batten, soil sampling is underway at the Hot Spring zinc target ahead of planned maiden drilling. The target sits along the western continuation of the fault trend associated with the McArthur River and Teena zinc deposits, although Daly has not reported mineralisation at Hot Spring itself. Environmental approval for drilling has been secured, with remaining approvals still in progress. The company also plans to complete a regional target review across the 1,124km² project.

Cash supports exploration, but Appendix 5B contains a discrepancy

Daly reported $9.85 million in cash at 30 September and spent about $931,000 on exploration and evaluation during the quarter, primarily at Huckitta. The Appendix 5B estimates 9.17 quarters of funding based on total relevant quarterly outgoings of $1.074 million, assuming that spending remains at the reported level.

There is a presentation inconsistency in the cash-flow table: item 4.6 lists cash and cash equivalents of $11.045 million, while the reconciliation lists bank balances and quarter-end cash of $9.850 million. The latter figure matches the reported cash balance and the cash-flow arithmetic after quarterly outgoings, but the discrepancy should be clarified in a future filing.