Forgent plc (LSE:FORG) has reported new shallow gold intersections at its central Curley’s prospect within the Peak Hill project in Western Australia, including two seven-metre intervals grading 2.32 grams per tonne (g/t) and 1.05g/t gold, respectively.
The mineral exploration company said all 12 closely spaced drill holes at central Curley’s returned gold-bearing intervals, prompting plans for an additional drilling programme of approximately 55 holes to investigate the extent and continuity of mineralisation.
Drilling Returns Gold Grades of Up to 4.32g/t
Forgent completed 30 drill holes totalling 1,406 metres during the latest phase of exploration at Curley’s.
The programme included 12 closely spaced holes covering 696 metres at central Curley’s and 18 wider-spaced holes totalling 710 metres.
Among the results, drill hole CAC010 intersected seven metres averaging 2.32g/t gold from 26 metres downhole, including one metre at 4.32g/t from 28 metres.
The same hole also returned two metres at 1.15g/t from 44 metres and a separate one-metre interval at 1.40g/t from 49 metres.
Drill hole CAC011 intersected seven metres averaging 1.05g/t gold from 49 metres, including one metre at 3.63g/t from 50 metres.
Other reported intersections included one metre at 4.10g/t from 22 metres in CAC003 and one metre at 3.71g/t from 50 metres in CAC004.
CAC009 returned five metres averaging 0.65g/t gold from five metres, including one metre at 1.49g/t from seven metres.
Forgent also reported four metres averaging 0.63g/t from 26 metres in CAC002, including one metre at 1.88g/t.
Results Support Revised Geological Interpretation
The company said the distribution of gold-bearing intersections across neighbouring drill holes supports its working interpretation of an approximately east-west mineralised trend dipping northwards.
The results build on earlier Phase I drilling, including hole PKA040, which returned two metres at 3.68g/t gold from 50 metres, including one metre at 5.83g/t.
However, wider-spaced drilling across the surrounding and northern areas did not produce significant gold intersections.
Forgent believes the northern drill holes may have ended above the projected mineralised horizon, based on its revised geological interpretation and historical drilling that identified gold-bearing intervals below 100 metres.
The company plans deeper drilling to test whether mineralisation continues beneath the previously investigated northern area.
The reported intersections represent downhole lengths rather than confirmed true widths.
Additional 55-Hole Drilling Programme Planned
Following the latest assay results, Forgent intends to expand its Phase II exploration programme with approximately 55 additional drill holes.
The programme will include 51 holes at central Curley’s, comprising approximately 30 holes on a 20-by-20-metre grid, 15 holes on a 40-by-40-metre grid and six holes on an 80-by-80-metre grid.
A further four deeper holes are planned at northern Curley’s to investigate the projected mineralised horizon.
Drilling is scheduled to resume over the coming weekend.
Once the additional Curley’s drilling is completed, the rig is expected to return to the Cathedral prospect to continue exploration activities.
Forgent Targets Progress Towards Maiden Mineral Resource
Chief Executive James Parsons said the shallow gold intersections across neighbouring holes had increased the company’s confidence in the central Curley’s exploration opportunity.
He explained that the expanded drilling programme would examine connections between the reported intersections and determine whether mineralisation extends along the interpreted trend and at greater depths.
Forgent aims to use the results to assess whether geological and grade continuity could support the preparation of a maiden JORC-compliant Mineral Resource estimate.
The company has not yet established a mineral resource at central Curley’s, and further drilling and geological assessment will be required to determine the extent of the deposit.
More About Forgent
Forgent plc (LSE:FORG) is an Australian-focused mineral exploration company targeting critical and precious minerals. Its exploration activities include the Peak Hill project in Western Australia, where the company is investigating gold mineralisation across the Curley’s and Cathedral prospects.
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