Exploration Update: October 2025

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It was a year ago that we shifted the company's strategy to focus on building a pipeline of targets, and September marked the moment when we truly began to see the rewards of all that hard work. Firstly, our refined selection process identified the high-quality silver and gold potential on the Firenze Project in Nevada, and more importantly, the start of drill testing the first targets in our pipeline at the Eromanga Basin Heavy Mineral Sands Project.

It was a highly productive month, and I am looking forward to more such months as we roll out our exciting exploration programs over the next 6 to 12 months.
Duncan Chessell
Managing Director

Eromanga Basin, South Australia

Eromanga HMS Project

September activities

  • 4,000m HMS air-core drilling program
    commenced on 15 September as planned
  • 100 drillholes for 3,650m completed Nilpinna EL7071 and Douglas Creek

October Plans

  • Additional 500m added to program
  • Program to be completed by 10 October
  • Drilling continues at Douglas Creek today and
    will soon move to drill test Eddy EL7072
  • Selective samples to be sent for Heavy Liquid
    Separation (HLS) assay to determine grade
  • Laboratory assays to be reported
Macquarie Arc, NSW

Byrock Copper Gold Project

September activities

  • Drill permits granted for testing seven shallow “pipe-like” geophysical features
  • Analogous targets to North Parkes, Cadia Cu-Au porphyry deposits, NSW

October Plans

  • Drill pads and tracks to be cleared
  • Final preparations for an early November start 1,500m Aircore/RC drill program
Nevada, USA
Firenze Silver & Gold Project

September activities

  • Completed review of historical data
  • Secured Option to purchase for US$400k
    Due Diligence (DD) commenced
  • Capital raise completed to fund cash
    component of purchase and preparations and permitting for drilling in early 2026

October/November Plans

  • Alteration mapping and rock chipping outcropping Silver & Gold veins
  • Magnetics, gravity and passive seismic geophysics surveys to delineate drill collars
  • Specialised fine fraction soil samples collection
  • Completion of DD & Transfer of claims
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