Ramelius Resources (ASX: RMS)
Provided a positive exploration update.
Two quarters of exploration drilling with one clear outcome, high-grade results strengthening the case for Ramelius’ next underground mine and its pathway to more than 500,000 ounces of production per annum by FY30.
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| Ramelius Resources | AXS: RMS | |
| Stage | Production | |
| Metals | Gold | |
| Market cap | A$5.6 Billion @ A$3.00 | |
| Location | Western Australia | |
| Website | www.rameliusresources.com.au |
Ramelius Resources Announce High-Grade Gold Discoveries
EXPLORATION UPDATE
High-Grade Strategy & Discovery
Ramelius Resources Limited (ASX: RMS) (“Ramelius” or “the Company”) is pleased to provide an exploration update.
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HIGHLIGHTS
Two quarters of exploration drilling with one clear outcome: high-grade results strengthening the case for Ramelius’ next underground mine and its pathway to more than 500,000 ounces of production per annum by FY30.
A total of 165,000 metres of drilling was completed over the half year period, delivering
exceptional results.
By prioritising new high-grade discoveries through extensional drilling, Ramelius aspires to strengthen its current production profile and beyond FY30.
Dalgaranga
• Never Never (infill)
➢ 3.38m at 996g/t Au from 101.6m
➢ 8.8m at 20.2g/t Au from 119.0m
➢ 13.0m at 34.5g/t Au from 151.0m
➢ 10.4m at 15.2g/t Au from 217.2m
➢ 16.1m at 14.0g/t Au from 131.0m
• Gilbey’s Underground
➢ 1.6m at 130g/t Au from 216.3m
➢ 3.7m at 38.2g/t Au from 408.7m
➢ 3.7m at 16.6g/t Au from 327.3m
• Patient Wolf
➢ 6.8m at 4.24g/t Au from 246.57m
➢ 4.3m at 4.05g/t Au from 329.68m
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Cue
• Lena
➢ 19.7m at 5.73g/t Au from 445.4m, incl. 2.0m at 23.1g/t Au
➢ 9.0m at 12.9g/t Au from 499m, incl. 3.0m at 35.2g/t Au
• Break of Day
➢ 4.0m at 4.07g/t Au from 456.0m
• Big Sky
➢ 12.0m at 5.34g/t Au from 91m
• Austin North (Cue Regional)
➢ 22.1m at 4.38g/t Au from 171.2m
• West Island (Cue Regional)
➢ 6.9m at 4.47g/t Au from 370m
Galaxy Mine Area (Mt Magnet)
• Mars and Saturn Underground
➢ 20.2m at 40.7g/t Au from 189.1m, incl. 11.0m at 71.7g/t Au
➢ 10.5m at 3.16g/t Au from 77.1m, incl. 1.3m at 16.8g/t Au
➢ 12.0m at 3.38g/t Au from 54.0m
• Perseverance South
➢ 24.05m at 3.47g/t Au from 315m, incl. 0.95m at 24.4g/t Au
➢ 7.8m at 8.05g/t Au from 164m, incl. 2.0m at 25.0g/t Au
➢ 4.33m at 9.70g/t Au from 92.45m, incl. 0.35m at 96.7g/t Au
• Hesperus
➢ 42.95m at 1.93g/t Au from 336m, incl. 8.0m at 5.09g/t Au
➢ 7.0m at 9.64g/t Au from 97m, incl. 1.0m at 59.2g/t Au
Eridanus Mine Area (Mt Magnet)
• Franks Tower
➢ 14.76m at 54.5g/t Au from 244.01m, incl. 0.52m at 740g/t Au
➢ 3.6m at 113g/t Au from 122.6m, incl. 0.7m at 577g/t Au
• Mirkwood
➢ 5m at 4.67g/t Au from 91m
Lennonville Trend (Mt Magnet)
• Mermaid
➢ 3.0m at 30.3g/t Au from 91m
Rebecca-Roe Gold Project
• Duke
➢ 23.9m at 3.23g/t Au from 282m
• Rebecca
➢ 23.5m at 1.70g/t Au from 395m
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FY26 Exploration Investment
Exploration and resource definition investment for the June 2026 Quarter was A$33.9M and for FY26 was A$103.9M which was above Guidance of A$80 – 100M.
The areas of investment are shown below:
Exploration investment FY26 by location
Given the stream of excellent results returned during FY26 that are considered likely to lead to resource extensions at a number of key projects, the Board has approved a similar budget of A$90 – 110M or approximately 240,000 metres in drilling planned for exploration in FY27 again focusing on high-grade targets at all projects within the portfolio.
In late August, we are excited to share the latest Group Reserves and Resources statement that demonstrates the exploration program’s success.
In FY27, we are planning for this continued success as part of our overarching corporate growth strategy.
The Company’s vision is to expand our Mineral Resource inventory through continued aggressive exploration.
The immediate focus centres on aggressive extension drilling to drive resource growth, and targeted infill drilling campaigns to improve geological confidence and evaluate potential upgrades of current Inferred Resources to Indicated.
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Executive General Manager Exploration, Peter Ruzicka said:
“The application of expanded exploration budget in FY26 resulted in successful identification and development of multiple high-grade targets.
“This includes evolving exploration target areas at Galaxy and Gilbey’s Underground that have the ability to provide near-term upside for the 5-year production outlook by displacing low-grade material currently in the mine plan.
“High grade underground opportunities have also been identified at Lena (Cue Gold Project) and at Perseverance South (Galaxy Mine Area – Mt Magnet Gold Project), situated immediately adjacent to the Galaxy underground mine.
“Going forward we will continue to target new high-grade opportunities within prospective tenement packages at Dalgaranga, Mt Magnet and Cue.”
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To read the full news release please click HERE
To see the latest share price and chart, please click HERE.
To View Ramelius Resources’ historical news, please click here
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds no shares in Ramelius Resources.
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