Accelerate Resources Reports Promising Shallow Gold Intercepts from First Fluffy Drilling in Over 30 Years

First Fluffy Aircore Drilling Yields Significant Shallow Gold Intersections

Accelerate Resources completed its first drilling campaign at the Fluffy Prospect in over 30 years, revealing encouraging shallow gold mineralisation across multiple intercepts. The program comprised 35 shallow aircore holes totaling 1,473 metres, drilled on 100–150 metre spaced traverses targeting the eastern margin of the Catrock-textured porphyritic dolerite and cross-cutting structures identified via the company’s Gradient Array Induced Polarisation (GAIP) geophysical survey. Fluffy is situated within the Balagundi Gold Project approximately 15 kilometres east of Kalgoorlie, Western Australia.

Key assay results from the maiden aircore drilling include 10 metres grading 1.05 grams per tonne gold from 24 metres depth in hole 26BGAC086, 3 metres at 1.96 grams per tonne gold from 49 metres depth in hole 26BGAC061, 1 metre at 8.44 grams per tonne gold from 37 metres depth in hole 26BGAC078, and 4 metres at 1.13 grams per tonne gold from surface in hole 26BGAC082. These intercepts lie within the same broad geological corridor that hosts significant historical drill results, such as 45 metres grading 1.35 grams per tonne gold from 24 metres depth in historical hole BHR042. The spatial correlation between new and historical results strengthens the case for mineralisation continuity across the Fluffy prospect.

Gold-Arsenic Corridor Validated by Multiple Geophysical and Geochemical Indicators

Integration of geological, geochemical, and geophysical data enhances confidence that Fluffy represents a significant mineralised gold system. The recent aircore results highlight the eastern margin of the Catrock-textured porphyritic dolerite as a prime target for gold mineralisation. New stronger gold intersections closely align with historic gold and arsenic anomalies and are spatially associated with cross-cutting structures identified by the GAIP survey. This multi-disciplinary dataset—combining drilling, geochemistry, and geophysics—provides a systematic framework to understand mineralisation geometry and controls at Fluffy.

Widespread arsenic anomalism was again detected in the shallow drilling, interpreted as significant given the local geology dominated by mafic rocks with an absence of sedimentary units. This extensive arsenic signature likely reflects hydrothermal alteration linked to a gold mineralising event rather than background lithological variation. Geological logging recorded alteration, minor sulphides, and quartz veining in several holes, supporting hydrothermal activity. The presence of gold-bearing intervals in shallow drilling suggests a primary gold source remains to be tested in largely unexplored fresh rock at depth.

Balagundi Project Expanded by 80% via Transaction with Maritana Minerals

Accelerate Resources significantly enlarged the Balagundi Gold Project through a binding transaction with Maritana Minerals Limited (ASX:MRT) announced on 19 May 2026. Upon completion, the company’s prospective landholding will increase by approximately 80% to around 62 square kilometres. This expansion provides a broader platform for systematic exploration across the Balagundi gold camp and secures additional tenure over the interpreted extension of the Delta Trend, a key structural feature central to the company’s multi-trend exploration strategy.

Located within the highly endowed Norseman–Wiluna greenstone belt, one of Western Australia’s premier gold districts, Balagundi remains underexplored by modern techniques despite its favourable geology. The project hosts a prospective assemblage of basalts, dolerites, sediments, and felsic intrusives, with gold mineralisation associated with structural corridors and historic workings. Accelerate is advancing Balagundi as a multi-trend gold project, prioritising target areas including Spencers, Paris Gift, Delta, Iron Bound, Fluffy, and other emerging structural prospects. This phased approach facilitates systematic evaluation of multiple targets while building a comprehensive understanding of the broader gold systems.

Follow-Up Drilling and Integrated Interpretation to Refine Targets

The next exploration phase will focus on progressing Fluffy toward deeper drilling and systematically exploring the expanded tenure. Selected mineralised and altered samples from Fluffy will undergo further analysis to better characterise host rocks and alteration associated with gold intervals. These data will integrate with recent drilling, historical datasets, multi-element geochemistry, and GAIP geophysical interpretation to refine the structural model and define high-priority drill targets. Planning for follow-up drilling, including reverse circulation (RC) and diamond drilling, is underway though specific timing and targets remain undisclosed.

Concurrent geological mapping and systematic geochemical sampling will commence across the newly acquired MRT tenure to prioritise additional gold targets within the expanded Balagundi Project. This comprehensive exploration approach aims to test the potential of multiple prospects within the portfolio. CEO Luke Meter stated, "Ongoing analytical work and integrated geological interpretation will help refine targets for deeper RC or diamond drilling, while mapping and geochemical sampling across the new MRT tenure will test the broader potential of our expanded Balagundi landholding." This strategy aims to build a robust pipeline of drill-ready targets supporting sustained exploration across multiple prospects.

Strategic Location in Kalgoorlie Gold District Underpins Exploration Potential

Situated approximately 15 kilometres east of Kalgoorlie within the Norseman–Wiluna greenstone belt, the Balagundi Gold Project benefits from a proven geological framework in one of Western Australia’s most prolific gold regions. The district has yielded significant gold resources and reserves across multiple deposits and mines. Despite this, Balagundi remains relatively underexplored, presenting opportunities for discovery-driven exploration.

The project’s prospective rock package—basalts, dolerites, sediments, and felsic intrusives—contains key lithologies associated with orogenic gold mineralisation in greenstone belts. Gold mineralisation correlates with structural corridors and historic workings, indicating prior surface and shallow mining activity. Combining legacy data with modern exploration methods such as detailed geophysical surveys (including GAIP), systematic geochemical sampling, and targeted drilling provides a structured framework to advance exploration. The multi-trend approach reflects the district’s prospectivity and potential for multiple discrete gold systems across the expanded tenure.

Catrock Dolerite Eastern Margin Identified as Principal Structural and Lithological Control

The eastern margin of the Catrock-textured porphyritic dolerite has emerged as a critical control on gold mineralisation at Fluffy, based on the distribution of new and historical gold intercepts. This mafic intrusive rock intruded the greenstone sequence and has undergone deformation and hydrothermal alteration. The contact between dolerite and sediments, along with associated structures, appears to provide a favourable environment for gold deposition. Several drill holes intersected gold-bearing zones near this lithological boundary. Cross-cutting structures interpreted from GAIP geophysics add secondary structural controls on mineralisation distribution.

Widespread arsenic anomalism and hydrothermal alteration observed in recent drilling further support the dolerite’s role as a host. Mafic rocks like dolerite can be effective hosts in greenstone belts, especially where structural pathways localise mineralising fluids. The coincidence of geochemical (arsenic, gold), geological (alteration, quartz veining, sulphides), and geophysical (GAIP-identified structures) indicators along the eastern margin of the Catrock dolerite strongly supports targeting this contact in future exploration. Planned integrated geological interpretation will refine understanding of structural geometry and controls on mineralisation.

High-Grade Gold Intercepts and Arsenic Anomaly Indicate Primary Mineralisation

High-grade gold intercepts from shallow aircore drilling at Fluffy, including 8.44 grams per tonne gold in hole 26BGAC078, confirm the presence of mineralised material near surface. Although aircore drilling typically samples weathered or oxidised rock, these grades suggest elevated gold content in host rocks. The spatial association of multiple gold intercepts with a coherent arsenic anomaly—interpreted as a hydrothermal alteration signature—supports the interpretation of an ancient hydrothermal gold system rather than supergene enrichment or reworked material.

Accelerate’s view that "a primary gold source remains to be tested in the largely unexplored fresh rock at depth" is supported by evidence of quartz veining, minor sulphides, and alteration minerals in several drill holes. This indicates the hydrothermal system responsible for mineralisation extends vertically and likely continues at depth. Planned follow-up RC and diamond drilling will test fresh rock zones, improving geological understanding of mineralisation geometry, grade distribution, and economic parameters relevant for resource estimation.

Historical Drilling Supports Continuity of Fluffy Gold System

Historical drilling at Fluffy, conducted over 30 years ago, returned significant gold intersections providing a valuable benchmark for recent results. The strongest historical intercept is 45 metres grading 1.35 grams per tonne gold from 24 metres depth in hole BHR042, with other notable results including 10 metres at 1.16 grams per tonne gold from 10 metres depth in BDD2 and 6 metres at 1.85 grams per tonne gold from 30 metres depth in BHRC003. The spatial and stratigraphic alignment between these historic intercepts and recent aircore results strengthens the case for a coherent gold-bearing corridor across Fluffy.

The close alignment of new results with historical locations and grades confirms Accelerate’s successful relocation of the mineralised zone after more than three decades without drilling. This continuity—combining old and new drilling, historical geochemical data, modern geophysical interpretation, and current geological observations—builds a compelling case for a significant mineralised system at Fluffy. The company’s statement that results "reinforce a broad, coherent gold-arsenic corridor along the eastern margin of the Catrock dolerite" reflects this integrated dataset.

Upcoming RC and Diamond Drilling to Advance Fluffy Exploration

Accelerate is planning follow-up drilling at Fluffy and other gold targets identified from recent work, progressing from shallow aircore to deeper reverse circulation (RC) and potentially diamond drilling. RC drilling provides improved sample recovery, geological control, and depth testing, while diamond drilling yields core samples for detailed geological logging and better understanding of mineralisation geometry and rock quality. This transition marks a key step toward resource estimation and potential mine development.

Integrated geological interpretation and analytical work will define precise locations, orientations, and depths for follow-up drilling. CEO Luke Meter noted that results will "help refine targets for deeper RC or diamond drilling," indicating the company remains in exploration and target refinement phases rather than detailed mine planning. Timing, budget, and drill metres for the next phase have not yet been disclosed. Investors will likely monitor announcements on deeper drilling commencement and results as important value-creation milestones.

Multi-Trend Exploration Strategy Enhances Balagundi’s Greenfield Potential

Accelerate’s multi-trend gold project approach at Balagundi, prioritising Spencers, Paris Gift, Delta, Iron Bound, Fluffy, and other emerging structural targets, reflects a systematic exploration strategy across a large landholding within a proven gold district. This multi-target approach allows parallel generation and testing of multiple drill prospects, reducing exploration risk through portfolio diversification. The geographical distribution of targets across the expanded 62-square-kilometre tenure indicates multiple gold mineralisation indicators throughout Balagundi.

The recent MRT tenure acquisition and commitment to geological mapping and geochemical sampling suggest the target list will grow as exploration progresses. The Norseman–Wiluna greenstone belt’s history of multiple discovery-scale gold deposits supports this multi-trend strategy. The company’s ability to systematically test multiple targets while advancing Fluffy toward deeper drilling will be critical to achieving sustained exploration success and potential resource definition at Balagundi.