Neometals Ltd (ASX: NMT) is set to recommence exploration drilling at its 100% owned Barrambie Project in Western Australia. The company plans to execute a reverse circulation drilling program totaling 1,150 meters across two distinct areas, the Rinaldi copper target and the Ironclad gold deposit, to evaluate growth potential for both prospects.

At Rinaldi, the company will dedicate approximately 410 meters of drilling across three holes to test a geophysical anomaly identified through chargeability and resistivity surveys. This target sits about 700 meters northeast of historic workings where past production reached 138 tonnes of copper at a grade of 9.8%. The upcoming campaign follows previous drilling results that suggested down-dip continuity of high-grade copper and silver mineralization. Results from this phase are intended to inform the broader copper exploration strategy for the project.

Simultaneously, Neometals will conduct 740 meters of drilling at Ironclad, focusing on five holes to define the down-plunge extensions of known gold mineralization. The deposit currently hosts a resource estimate of 15,000 ounces, and the current work aims to expand this base to support a potential open-pit development. This work is a precursor to more comprehensive efforts involving mining services partner BML Ventures Pty Ltd, which is slated to fund and execute subsequent grade control drilling for a proposed starter pit.

"We are excited to resume drilling at Barrambie to test our first co-incident geophysical anomaly as well as extensions to the Rinaldi copper mineralisation, in addition to extensions to the existing Ironclad gold Mineral Resource Estimate. Ironclad pre-production activities are continuing to progress, and we look forward to updating shareholders as we move towards a Final Investment Decision."

— Chris Reed, Managing Director

The project is moving toward commercial milestones alongside its exploration activity. Neometals expects to finalize a native title agreement and state deed in September 2026, a step required to secure the mining lease for the Ironclad deposit. Following this, the company anticipates launching a second phase of drilling at the site to test further depth extensions and move toward upgrading the current mineral resource classification. These operational steps are designed to de-risk the development profile of the site, with the team focused on reaching a final investment decision to transition the prospect from the exploration phase toward active gold production. 

Read the full announcement: RC Drilling of Copper IP Targets and Ironclad Extension