Exultant Mining has intersected visible sphalerite-galena-chalcopyrite sulphides within a sheared contact zone in drill holes BLRCDD004 and BLRCDD005 at the Balerion Prospect, located within the Peak View Project in New South Wales.

The drilling successfully tested the interpreted mineralised sheared contact down-dip of historical high-grade polymetallic intersections. Core photos and visual logging show disseminated, semi-massive and narrow massive sulphides within the targeted shear zone, with BLRCDD005 displaying stronger visual sulphide development.

Drill hole BLRCDD004 reached 267.4 metres to test a resistivity-low anomaly approximately 190 metres down-dip from historical hole PVI003, which returned 2.5 metres at 5.87% zinc, 3.33% lead, 0.67% copper and 22 grams per tonne silver from 53.7 metres. BLRCDD004 also tested approximately 80 metres down-dip of historical hole PVI008, which yielded 0.8 metres at 22.0% zinc, 11.6% lead, 1.2% copper, 155 grams per tonne silver and 0.5 grams per tonne gold from 152.6 metres.

Drill hole BLRCDD005 reached 271.9 metres to test a resistivity-low anomaly approximately 220 metres down-dip of historical hole PVI006, which intersected 4.4 metres at 342.7 grams per tonne silver, 4.0% lead, 1.1% copper, 0.74 grams per tonne gold and 0.84% zinc from 48.7 metres.

Laboratory assay results for BLRCDD001 and BLRCDD002 confirmed base metal and silver anomalism, though the assays were generally low grade. Assays for BLRCDD004 and BLRCDD005 remain pending and are expected within four to eight weeks.

Executive Chairman Brett Grosvenor said the drilling had advanced the company's understanding of the prospect:

“The latest drilling has advanced our understanding of Balerion and, importantly, has intersected the targeted rhyolite-volcaniclastic contact in BLRCDD004 and BLRCDD005 down-dip of historical high-grade mineralisation.

The assays received from BLRCDD001 and BLRCDD002 were generally low grade, but they are still useful in refining our geological model. They suggest that the underlying volcaniclastic package is mineralised, with higher-grade sulphides more likely to be concentrated where hydrothermal fluids have exploited the sheared contact with the overlying rhyolite.”

— Brett Grosvenor, Executive Chairman

Meanwhile, drill hole BLRCDD006 is underway as the planned final hole of the current program at Balerion. Following its completion, drilling, assay, geological, geochemical and geophysical datasets will be integrated to determine the next phase of exploration. In the surrounding district, nearby developer Develop Global reported a record operational quarter at its Woodlawn copper-zinc mine in July 2026, achieving 4,625 tonnes of copper-equivalent production.

Read the full announcement: Balerion Drilling Intersects Sulphide-Bearing Contact Zone