Austral Resources Australia Ltd (ASX:AR1) has identified a potential second parallel copper-gold lode at its Cameron River project in Queensland. Drilling at the new Santa Maria Trend, located approximately 300 metres south of the primary Snow Queen prospect, returned an intersection of 15m @ 1.20% Cu and 0.24 g/t Au, including a high-grade core of 5m @ 3.04% Cu and 0.60 g/t Au. Geologists noted the mineralisation displays similar alteration characteristics to those seen at Snow Queen, suggesting it may form part of the same broader mineralised system.

While the latest results demonstrate clear continuity, they differ from earlier successes at the project. An announcement on 6 May 2026 previously reported 10m @ 7.52% Cu at the main Snow Queen prospect; the current result at Santa Maria shows a wider mineralised interval but at a lower grade compared to those initial high-grade discoveries. The company noted that follow-up drilling at Snow Queen is already underway to better define the extent of the high-grade mineralisation encountered during the programme.

"This result is a clear demonstration of Austral's ability to generate and drill high-quality copper targets within our tenure."

"We see significant value in systematically testing these targets, with the aim of identifying additional sources of copper mineralisation that could complement our existing operations."

— David Newling, Chairman

The company’s focus remains on expanding its resource base by identifying satellite feed sources within trucking distance of its Rocklands processing infrastructure, which is situated about 60 kilometres from the Cameron River site. To support this objective, the explorer mobilised a second drill rig in late June. This equipment is part of a wider exploration push that will systematically evaluate more than 35 historical copper workings over the next 12 to 18 months.

The latest findings at the Santa Maria Trend highlight that the mineral system remains incompletely understood, with further exploration required to confirm the geometry of the new lode. The broader regional drilling campaign continues, with management planning to test both extensions to known mineralisation and previously untested geophysical and structural anomalies throughout the fourth quarter of 2026. The company intends to release further assay results as they become available from its ongoing technical programmes. By systematically advancing these satellite opportunities, the team aims to build greater regional scale and secure reliable feed sources for its processing facilities. The exploration team is currently balancing its near-mine work with these greenfield regional tests to maximise the potential of its tenure in the Mount Isa-Cloncurry district.

Read the full announcement: Second Copper-gold Lode Identified at Snow Queen