ACDC Metals Identifies Multiple Drill Targets at Nevada's Mount Jackson Gold-Silver Project via Aeromagnetic Survey

Aeromagnetic Survey Highlights Magnetic Anomalies at Mount Jackson Project

ACDC Metals has completed processing and interpretation of aeromagnetic and radiometric data from the Mount Jackson Project in Nevada's Walker Lane. Total Magnetic Intensity (TMI) imaging uncovered three distinct target zones marked by unique magnetic anomalies that correspond with known gold, silver, and copper mineralisation from historical exploration and mining. These results provide a new technical base for the company’s ongoing exploration efforts aimed at delineating and expanding known mineralisation and identifying high-grade system analogues.

The company emphasized that the survey and other initial exploration components aim to identify prospective geological areas and establish drill-worthy targets. CEO Tom Davidson highlighted that the aeromagnetic survey delivers critical data to enhance understanding of the Mount Jackson Project and define high-priority targets for the planned Q4 2026 reverse circulation (RC) drilling campaign. The magnetic targets’ correlation with mineralisation is highly encouraging for expanding mineralisation at the Pegasus Zone.

Pegasus Zone Emerges as Key Target with Extensive Epithermal Mineralisation

The Pegasus Zone stands out as a primary exploration focus based on aeromagnetic results. It features epithermal-style gold and silver mineralisation within a structurally complex transition between a western high magnetic signature and an eastern low magnetic signature. The aeromagnetic data reveals fine-scale interleaving of magnetic highs and lows, likely representing fault or breccia zones and magnetite destruction due to alteration, indicative of hydrothermal processes typical of epithermal systems in the area.

Recent geophysical data suggest the Pegasus Zone mineralisation may extend along strike beyond historically drilled areas. The region between Pegasus and the Sinter Area (at the survey’s eastern edge) is identified as a prime target for further study, exhibiting similar geology and a magnetically subdued signature consistent with near-surface hydrothermal sinter where magnetite has been depleted. The presence of multiple magnetic targets adjacent to known mineralisation supports the exploration thesis and guides drill target prioritization.

3 Shaft Zone Displays Strong Magnetic Signature Linked to Historic Copper Mining

The 3 Shaft Zone is another key target revealed by the aeromagnetic survey, characterized by a robust north-south magnetic high interpreted as a magnetite-bearing intrusive or contact skarn. This historically mined copper area aligns with the western edge of the magnetic anomaly where magnetic intensity transitions from high to low.

Recent field sampling at 3 Shaft detected anomalous gold values, broadening mineral potential beyond historic copper extraction. The pronounced magnetic gradient may indicate a contact skarn or aureole related to felsic-intermediate intrusions. An Induced Polarisation (IP) survey is being considered to explore the 3 Shaft Zone at depth and refine drill targets. The overlap of strong magnetic features, historical mining, and new gold anomalies underscores the zone’s importance in the exploration strategy.

Geological Interpretation Supports Epithermal Mineral System Model

The aeromagnetic findings reinforce ACDC Metals’ geological model that Mount Jackson may host an epithermal mineral system typical of western Nevada. Such systems develop along structurally focused hydrothermal corridors in regions with coeval felsic and intermediate volcanic intrusions, a setting suggested by the magnetic data. Magnetic highs likely represent intrusive centers, while surrounding lows may indicate magnetite destruction from hydrothermal alteration.

This model aligns with Nevada's Walker Lane's established mineralisation framework, a Tier-1 geological feature with a robust mining legacy and active exploration. Multiple magnetic targets correlating with known gold, silver, and copper deposits validate the epithermal model and justify further geophysical surveys and drilling. Using magnetic data to identify targets is consistent with regional exploration best practices, historically effective in delineating mineralised systems.

Induced Polarisation Survey Planned to Enhance Drill Target Precision

To refine drill target definition, ACDC Metals is evaluating an Induced Polarisation (IP) survey at Mount Jackson, potentially covering the Pegasus and 3 Shaft zones. The focus will be on transition areas between high and low magnetic signatures to detect sulphide presence. Historical drilling logs report sulphides in alteration zones, supporting IP use to pinpoint mineralisation.

Combining magnetic and IP data will aid in prioritizing drill targets, as coincident magnetic complexity and chargeability highs are considered strong indicators of porphyry and epithermal systems in the Walker Lane. This integrated geophysical approach aims to boost drilling confidence and increase the likelihood of successful intersections during the planned Q4 2026 drilling program. The IP survey is slated for Q3 2026, ahead of drilling.

Exploration Schedule Advances Through Permitting and Surveys

ACDC Metals has outlined a clear timeline for advancing exploration at Mount Jackson, with permitting for geophysics and drilling set for Q3 2026. Additional geophysical surveys on targets identified by the magnetic survey are also planned for Q3. Target prioritization for drilling will conclude in the same quarter, enabling commencement of the maiden drilling campaign in Q4 2026. This schedule reflects the company’s commitment to progressing the project through key exploration phases.

Planning and procurement efforts are in progress to secure a drilling contractor for the Q4 2026 campaign. The progression from survey interpretation through permitting and geophysics to drilling follows standard exploration protocols, each step refining targeting and mitigating risk. This timeline offers investors transparency on milestones and facilitates monitoring of execution against goals. The Q4 2026 drilling will be the first direct test of targets identified via aeromagnetic and other exploration data.

Strong Capital Structure and Financial Position Support Exploration

As of 20 July 2026, ACDC Metals reported a market capitalization of A$4.8 million and an enterprise value of A$3.1 million, with 100.6 million ordinary shares outstanding. The company held A$1.73 million in cash as of Q1 2026 and carried no debt, maintaining a debt-free balance sheet. Additionally, 8.58 million options and 6.79 million performance rights were outstanding. The share price stood at A$0.049 on 20 July 2026. This capital structure reflects an early-stage exploration profile, with the debt-free status providing flexibility to fund planned activities.

The cash balance supports funding for Q3 and Q4 2026 exploration, including the IP survey and maiden drilling. Investors should observe cash management and any capital raising efforts needed to advance exploration. The company is headquartered in Melbourne, Victoria, at Level 2, 480 Collins Street, while the Mount Jackson Project is located in Nevada, USA. Operating across two jurisdictions involves typical administrative and regulatory considerations for an Australian-listed junior explorer with US assets.

Strategic Location in Nevada's Walker Lane Mineral District

Mount Jackson’s position within Nevada’s Walker Lane offers exposure to a geologically prospective region with a strong mining history and proven mineralisation. The Walker Lane is a Tier-1 geological province known for significant historical mining output and active exploration and development. Its geological setting favors epithermal gold-silver and porphyry copper systems, aligning with ACDC Metals’ targets at Mount Jackson. Access to established infrastructure and exploration precedents reduces risks compared to remote or underexplored areas.

Historical mining at Mount Jackson, including shafts and workings at the 3 Shaft Zone, confirms that mineralisation of economic interest has been identified previously. This legacy data underpins the current exploration program and supports the geological rationale for prioritizing targets. The Walker Lane’s reputation as a productive mineral district with ongoing activity aligns the company’s strategy with proven regional methods. However, investors should note that past mining success does not guarantee economic discoveries from current exploration.

Exploration Risks and Uncertainties Ahead of Maiden Drilling

Despite promising aeromagnetic targets, ACDC Metals’ exploration program faces inherent risks and uncertainties typical of mineral exploration. The Q4 2026 maiden drilling will be the first direct test of geophysical and historical targets. Success depends on accurate geophysical interpretation, target definition, drilling quality, and the presence and grade of mineralisation. No prior drilling results at Mount Jackson have been disclosed, and there is no assurance of economically viable mineralisation.

Additional risks include potential permitting delays in Q3 2026, availability and cost of drilling contractors, geological conditions differing from surface interpretations, and the fundamental risk that geophysical targets may lack economic mineralisation. Junior explorers like ACDC Metals face significant financial and technical risks, with inherently uncertain outcomes. The company is also considering further geophysical methods beyond the planned IP survey, indicating possible additional exploration investment before drilling.