Accelerate Resources Limited has intersected high-grade gold at the Spencers prospect within its Balagundi Gold Project in Western Australia, returning a maiden reverse circulation drill result of 11 metres at 4.65 grams per tonne gold from 25 metres.

The program, which comprised nine holes for 1,086 metres, delivered Balagundi's highest grade to date with a 1-metre interval grading 46.93 grams per tonne gold from 33 metres in hole 26BGRC023. All nine holes intersected gold mineralisation, confirming a broad system extending over 300 metres of strike that remains open along strike and down-dip.

“These results convert the shallow aircore discovery at Spencers into a clear RC-defined gold target. The standout 11 metres at 4.65 grams per tonne gold from just 25 metres demonstrates that Spencers can host high grades over significant widths close to surface.”

“Importantly, the high-grade sits within a broader mineralised zone associated with quartz veining and alteration along a geological contact we can map and follow. With only nine RC holes completed, and mineralisation remaining open along strike and down-dip, we have a strong case to prioritise the next phase of drilling.”

— Luke Meter, CEO

The gold mineralisation is associated with veining and alteration along a mappable dolerite-sediment contact. The shallow nature of the high-grade intercept in weathered rock highlights potential to define near-surface oxide gold suited to toll-milling options in the surrounding Kalgoorlie district.

Accelerate expanded its landholding at the project by approximately 80% to around 62 square kilometres through a transaction with Maritana Minerals Limited. The Spencers prospect is situated entirely within a granted Mining Lease that is 100% owned by the company, securing tenure over the discovery.

Planning and permitting are currently underway for follow-up drilling in coming months. This work will focus on extending the mineralised zone along strike to the north and south, testing the dolerite-sediment contact down-dip, and completing infill drilling around hole 26BGRC023.

Read the full announcement: High-Grade Gold Intercepted at Balagundi