- Assays received from five RC drill holes at Ironclad deposit
- Nine RC holes completed at Ironclad and Rinaldi
- Deepest RC drill hole discontinued due to water ingress.
- Company intends to complete the hole with a diamond drill tail in September
Neometals (ASX: NMT) has received promising early assay results from the drilling at the Ironclad deposit within the Barrambie project in WA.
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Five RC drill holes were drilled at Ironclad gold prospect in July 2026 and a further four holes at the Rinaldi copper prospect.
The 662 metres of drilling at the Ironclad deposit included testing for interpreted extensions of higher-grade mineralisation plunging north below the current mineral resource estimate (MRE).
Highlight results from various holes included 12m at 5.99 grams per tonne (g/t) from 116m, including 4.0m at 10.13 g/t from 118m; 11m at 5.50 g/tfrom 94m, including 3.0m at 15.10 g/t from 94m; 18m at 2.14 g/t from 89m, including: 8.0m at 3.29 g/t from 89m; and 2.0m at 4.6 1g/t from 103m.
A diamond drill tail is planned at Ironclad to extend the deepest RC hole, 26ICRC005, that stopped short of the target zone due to water ingress. In addition to the diamond tail, an additional diamond hole is planned to be drilled at Ironclad to test the interpreted higher-grade mineralisation trend approximately 50m down plunge from the current drilling.
MD, Chris Reed, said the three deepest drill holes at the Ironclad project to date, sit among the highest gold grade and width intersections for the deposit supporting the interpretation of a preferred high-grade plunging corridor that may be increasing in gold grade at depth.
“We are very encouraged by these results. All four completed holes returned significant gold mineralisation over widths exceeding 10 metres and, importantly, the deepest drilling at Ironclad has delivered some of the best grade-width intersections we have seen to date,” Mr Reed said.
“The results are strengthening our view that Ironclad hosts a higher-grade plunging corridor that may improve at depth. Our recent ground gravity survey has also identified a potential feeder structure off the Youanmi Zone, giving us a clear target for the next phase of drilling.
“The company now plans to extend hold 26ICRC005 and complete step out of a further 50 metres down plunge towards that interpreted feeder. We are keen to see how far this system continues.”
A diamond drill tail is planned to test the Rinaldi T2 DDIP target. All planned diamond drilling is scheduled for September 2026, subject to operational conditions and receipt of relevant approvals.
A detailed drone magnetic survey was completed in late August 2026 over the Rinaldi prospect, with final processed images pending.
A soil geochemistry program has commenced at the Rinaldi prospect that is designed to verify and confirm potentially anomalous historic soils geochemistry over and adjacent to the T2 DDIP target.
NMT was up 5.71% to 3.7¢. Mkt cap $30.64M.
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