Accelerate starts up first drilling at Fluffy prospect in Balagundi gold project in over 30 years

• Accelerate undertaking first drilling in more than 30 years at the Fluffy prospect within the Balagundi gold project in Western Australia.
• The 1,500-metre drilling is targeting extensions of a gold-bearing mineralised contact beneath shallow transported cover.
• Following up historic intercepts; targets defined from geophysics, geochemistry.

Accelerate Resources (ASX: AX8) is undertaking the first drilling in more than 30 years at the Fluffy prospect within the Balagundi gold project in Western Australia. The 1,500-metre drilling program is targeting extensions of a gold-bearing mineralised contact beneath shallow transported cover.

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Drilling has been designed to test multiple priority targets defined by the company’s recent gradient array induced polarisation (GAIP) geophysical survey and arsenic pathfinder geochemistry, which collectively identified prospective corridors that remain largely untested by historical drilling.

“We’re excited to commence drilling at Fluffy as the prospect has significant, high-grade historic gold grades, and our recent geophysical and geochemical work has identified new untested high-priority targets,” CEO Luke Meter said.

“We believe Fluffy represents a compelling opportunity within the broader Balagundi project and look forward to reporting results as they come to hand.”

Fluffy was initially identified from shallow historical gold workings, with wide-spaced shallow holes returning multiple anomalous to ore-grade intersections, including 45m at 1.35 grams per tonne (g/t) and 10m at 1.16 g/t and 6,0m @ 1.85 g/t.

Despite that early success, the broader target has remained largely untested, with no drilling undertaken since the 1990s due to historical tenement ownership constraints.

Surface rock-chip sampling near the historic workings has returned significant high-grade gold values, including 32.9 g/t, 29.2 g/t, 15.8 g/t, and 6.6 g/t.

Mr Meter said those results have further underpinned the prospectivity of the target. “The limited quartz vein content observed in some mineralised samples is considered encouraging, indicating a possible gold-sulphide association linked to a broader lode-style mineralised system,” he explained.

The surrounding Balagundi project is ~15 kilometres east of Kalgoorlie in the Norseman–Wiluna Belt of the Yilgarn Craton, proximal to Northern Star’s six million ounce Kanowna Belle gold mine and the 70M ounce KCGM Super Pit. The project covers approximately 34 sq. km of highly prospective geology.

Elsewhere, Accelerate is awaiting assay results from recently completed Phase 2 RC and aircore drilling programs at Balagundi; part of the company’s broader systematic exploration strategy at the project.

AX8 is steady at 0.7¢. Mkt cap $7.078M.

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