Neometals extends Barrambie with positive diamond drilling results

• Assays received from two diamond drill holes at Ironclad deposit
• Holes completed for a total of 262.60 metres
• Flooding prevented access to planned Rinaldi diamond tail
• Opportunity for future drilling to develop vertical extent of high-grade mineralisation

Neometals (ASX: NMT) has received positive gold hits from a weather impacted drilling campaign in Western Australia.

Diamond drilling was undertaken in late September and early October at the Barrambie project with two diamond drill holes completed at the Ironclad gold deposit for a total of 262.60 metres.

Assay results included 22.87m at 2.73 grams per tonne (g/t) from from 136.54m, with 2.82m at 7.54 g/t from 136.54m; and 7.23m at 4.81 g/t from 152.18m.

The program was designed to extend the interpreted higher-grade mineralisation plunging north below the current mineral resource estimate (MRE).

The 2026 drilling at Ironclad has extended the total strike length of the deposit out to approximately 450m with significant high grades at the northern end of the deposit.

The company believes there is an opportunity for future drilling to develop the vertical extent of the high-grade mineralisation, both above and below the 2026 reported high-grade defined mineralisation.

Elsewhere, a weather event during the drill program flooded the access track to a planned Rinaldi diamond tail preventing drill rig access.

A detailed drone magnetic survey that was completed in late August 2026 and a geochemical soil survey completed over the Rinaldi copper prospect in September 2026 will be used to design a RC drill program to test the copper anomaly and geological target.

“The latest diamond drilling results are another encouraging step in building our understanding of the Ironclad gold deposit. The intersection of 22.87 metres at 2.73g/t gold, including two higher-grade zones, extends the known mineralisation a further 50 metres north and reinforces the continuity of the higher- grade gold system beyond the current Mineral Resource,” MD, Chris Reed, said.

“Importantly, the diamond core has provided valuable structural information which, together with our recent geophysical work, is helping us better understand the controls on gold mineralisation.

“While the second hole did not return significant gold grades, the intense shearing and alteration encountered may indicate proximity to the interpreted feeder structure and help define the northern extent of the deposit.

“With mineralisation now identified over approximately 450m of strike and the higher-grade zones remaining open both up and down dip, we see further opportunity to grow the resource.

“Our focus remains on advancing Ironclad towards a development decision while systematically evaluating the potential to extend the mine life and improve the value of this emerging gold asset.”

NMT is steady at 2.9¢ with a Mkt cap of $25.38M.

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