The Minerals 260 Ltd (ASX: MI6) share price is rising today after the company released strong new drilling results from its 100%-owned Bullabulling Gold Project, including 7.8m at 9.0g/t gold from shallow depth and 19m at 1.5g/t gold from 172m.
What did Minerals 260 report?
- Received assay results for 46 drill holes, totalling 11,163 metres across the Phoenix, Bacchus, Kraken and Gibraltar deposits
- Significant high-grade intercepts such as 7.8m @ 9.0g/t Au from 15.7m (Bacchus) and 2m @ 15.6g/t Au from 148m (Phoenix)
- Recent results at Gibraltar incorporated into the July 2026 Mineral Resource Estimate (MRE), now 190Mt @ 1.0g/t Au for 6.2Moz
- Infill drilling at Phoenix and Bacchus continues to support upgrading resources from Inferred to Indicated status
- Five drill rigs active on site, focusing on resource growth, regional exploration and production readiness
What else do investors need to know?
The Bullabulling Gold Project, located near Coolgardie in Western Australia, now boasts a 6.2 million ounce JORC Mineral Resource. The majority of recent drilling has targeted resource conversion and extensions, with strong results confirming continuity and thickness of mineralisation in key areas.
These results provide further confidence for ongoing studies and support the company’s production-readiness efforts. Exploration is planned to continue across three focus areas: resource expansion, regional targets, and progressing necessary studies for development.
What did Minerals 260 management say?
Minerals 260 Managing Director Luke McFadyen said:
These results reflect the systematic infill and extensional drilling undertaken across Bullabulling as we continue to build confidence in the scale, continuity and quality of the 6.2Moz Mineral Resource and test the broader mineralised system. The results continue to demonstrate strong continuity across the major deposits, with encouraging higher-grade intersections returned at Phoenix and Bacchus and opportunities to extend mineralisation beyond the current Resource.
Our focus is on opportunities to unlock further growth from the broader mineralised system, including the assessment of higher-grade trends within the 6.2Moz MRE, extensions to the existing deposits and near-surface targets across the project area.
What’s next for Minerals 260?
Looking ahead, Minerals 260 plans further drilling programs throughout the remainder of 2026 and into 2027. These will focus on both upgrading existing resources and exploring for new zones at depth and along strike.
Updates to the Mineral Resource Estimate are anticipated in mid-calendar 2027. The company is also progressing with geotechnical, metallurgical, heritage, and environmental studies as it prepares for potential future development options at Bullabulling.
Minerals 260 share price snapshot
The Minerals 260 share price is up over 500% over the past 12 months, vastly outperforming the S&P/ASX 200 index (ASX: XJO).
The post Minerals 260 drilling update: high-grade hits boost Bullabulling gold confidence appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.